KOSPI 8,000line recovery, Samsung 8% and Hynix 15% surge
KOSPI re-entered the 8,000line. Samsung Electronics rose 8%, while SK Hynix surged 15%. Coordinated buying triggered sidecars on the KOSPI and KOSDAQ, and some leveraged products recorded heavy losses.
KOSPI re-entered the 8,000line. The index showed a rebound trend on an early-session surge. Buying and selling flows among individual and foreign investors were mixed.
Samsung Electronics rose 8%. Large-cap semiconductor stocks led the session. SK Hynix surged 15%.
Reports said SK Hynix recovered 200ten-thousand won that day. On the same day, the ACE leveraged product tracking the index by 2times plunged 39%. The sharp volatility of leveraged products was confirmed.
Movements by foreign asset managers have been detected. JPMorgan acquired a stake in Innocean. BlackRock increased its stake in HLB to 6%.
Some U.S. funds were reportedly involved in large-scale selling of their stake in SK hynix. Foreign selling and purchases of large-cap stocks were mixed on the same day. Fund flows within the market were active.
The exchange triggered simultaneous buy-side circuit breakers on the KOSPI and KOSDAQ. The activation of the circuit breakers resulted in temporary trading restrictions. During the session, sharp gains centered on large-cap stocks and steep declines in some derivatives were observed together.