KOSPI closes at 5,018.85 after 2% intraday rebound fades

The KOSPI finished Monday, November 9, at 5,018.85, down 40.84 points or 0.81 percent from the previous trading session. The close kept South Korea's benchmark index just above the 5,000-point mark and extended its losing streak to three sessions.

Seoul Economic Daily reported that the index opened at 5,034.20 and initially fell to 4,990.66. Bargain hunting then lifted it to an intraday high of 5,172.94, a gain of 2.24 percent from the previous close. The recovery did not hold as the market moved lower during the afternoon.

Foreign selling offsets chip rebound

Foreign investors sold a net 680 billion won of KOSPI shares, while retail investors sold a net 497 billion won, according to the same report. Institutional investors bought a net 717 billion won, but those purchases were not enough to prevent the index from closing in negative territory.

Large semiconductor stocks provided only limited support. Samsung Electronics finished the regular session at 189,900 won, up 0.64 percent, while SK hynix closed at 1,136,000 won, up 0.35 percent. Both stocks had traded at higher levels during the day before giving back part of their gains.

Macro data in focus

Market participants are now looking toward US consumer and producer price data due this week, as well as earnings from CoreWeave and Applied Materials. These events may influence expectations for technology demand and the broader direction of semiconductor shares, which have been a major source of volatility in the KOSPI.

The session's reversal highlights the fragile nature of the attempted recovery after last week's sharp decline. The index's ability to remain above 5,000 may therefore be watched alongside foreign fund flows and the performance of large technology stocks, rather than treated as evidence of a completed trend reversal.

Further KOSPI coverage is available on the KOSPI topic page.