The KOSPI index surged 4.1% on the 9th, closing at 5298.04, following a significant drop earlier in the month and influenced by positive market sentiment from the U.S. market.
On February 9, the KOSPI index rebounded by 4.1%, closing at 5298.04, coming within 78.88 points of its all-time high of 5376.92 recorded on February 4. The index opened high, trading at 5299.10, and at one point reached as high as 5322.35. Despite a dip to 5265.08 during the afternoon, it rallied back, showcasing investor confidence amidst a volatile trading environment.
February has been a turbulent month for the KOSPI, with sharp fluctuations leading to several instances where the 'circuit breaker' mechanism was triggered due to significant drops in the KOSPI200 index futures. Following a 3.86% drop on February 5 and a substantial decline on February 6, the market found renewed optimism, partly due to a positive trend in U.S. markets, where the Dow Jones surged 2.47% and the S&P 500 and NASDAQ also saw gains.
Key players in the market, including major stocks like Samsung Electronics and SK Hynix, experienced notable gains of 4.92% and 5.72%, respectively, which contributed to the overall KOSPI increase. Institutional investors supported the upward trend, purchasing significant amounts in both the KOSPI and KOSDAQ markets, indicating a shift in investor sentiment back to a positive outlook after a period of significant decline.
