KOSPI Closes 2.24% Higher at 5,859.08 After Early Selloff
Published on 11/02/2026 at 13:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKOSPI Reverses Early Losses
- The KOSPI closed at 5,859.08 on November 2, 2026, up 128.34 points or 2.24 percent.
- The index opened 1.62 percent lower before institutional buying helped it recover and extend gains.
- Semiconductor shares advanced despite renewed concerns about the returns on artificial-intelligence investment.
- Foreign and retail investors were net sellers, while institutions led the buying.
South Korea's benchmark KOSPI ended Monday's session sharply higher after reversing an early selloff linked to weak U.S. technology shares. The index closed at 5,859.08, gaining 128.34 points, or 2.24 percent, according to Yonhap News Agency. The result represents the completed Seoul trading session and is not an intraday reading.
From Early Selloff To Rebound
The KOSPI opened at 5,637.77, down 1.62 percent, and fell as low as 5,616.50, a decline of 1.99 percent from the previous close. The market then changed direction as institutional investors stepped in, helping the index recover the 5,800 level and finish near the session high of 5,910.83.
Yonhap reported that institutions bought a net 1.23 trillion won, while foreign and retail investors together sold a net 1.72 trillion won. The buying pattern indicates that domestic institutional demand provided the main support for the rebound, although it does not by itself establish a lasting change in market positioning.
Semiconductors Lead The Recovery
Technology shares recovered despite continued debate over whether major U.S. technology companies will generate sufficient returns from their artificial-intelligence investments. Samsung Electronics rose 1.78 percent to 229,000 won, while SK hynix advanced 3.81 percent to 1,472,000 won.
The market was also assessing the implications of Intel's weaker-than-expected fourth-quarter sales guidance and its sharp decline on Wall Street. According to The Korea Times, investors increasingly viewed Intel's warning as a risk for PC manufacturers facing higher memory costs rather than direct evidence of weakening demand for memory chips.
Exports Offer Additional Support
South Korea's October exports also supported sentiment. The Korea Times reported that total exports reached 115.3 billion US dollars, while semiconductor exports rose 259.4 percent year over year to 56.4 billion US dollars. Those figures provided a domestic fundamental counterweight to the pressure from overseas technology markets.
Shipbuilding and defense shares were among the other gainers. Hanwha Ocean climbed 9.8 percent after its parent company, Hanwha Aerospace, announced the delivery of a medium landing ship to the U.S. Navy. The Korean won weakened to 1,343.8 won per U.S. dollar at 3:30 p.m. Seoul time, according to Yonhap.
Volatility may remain elevated as investors assess the profitability of artificial-intelligence spending and upcoming U.S. employment and midterm-election developments. Further KOSPI coverage is available on the KOSPI topic page.
