South Korea’s KOSPI rose 2.24% to close at 5,859.08 on Nov. 2, recovering from an opening decline of more than 1.5%. Institutional investors led the rebound with net purchases of 1.36 trillion won, while foreign investors recorded net sales of 1.41 trillion won. The market initially followed Wall Street lower after disappointing guidance from Intel and mixed results from major technology companies. Korean chip exports surged 259%, prompting investors to buy semiconductor stocks despite the U.S. market sell-off.
The index trimmed losses after opening lower, as Samsung and SK hynix shares rose and investor flows diverged amid strong chip exports and concerns over AI spending.
Read the full storyThe index erased early losses and rose more than 3% during the session, while gains broadened to 653 stocks despite continued foreign selling.
The index recovered from opening losses of more than 1%, while South Korean exports hit a record in October on a surge in semiconductors, despite slower growth in factory activity.