Kospi Reverses Losses, Rises 1.5% to Reclaim 7,700 Intraday

Samsung Electronics, SK Hynix Reverse Higher

South Korea’s Kospi index reversed losses in intraday trading after slumping into the 7,400 range, reclaiming the 7,700 level as chip stocks pared early declines.

As of 10:50 a.m. on May 13, the Kospi stood at 7,758.49, up 115.34 points, or 1.51%, from the previous session. The benchmark had opened down more than 1% before turning positive.

On the Kospi market, retail investors were net buyers of 2.0839 trillion won and institutions bought a net 468.8 billion won. Foreign investors were net sellers of 2.7024 trillion won.

Moves among the index heavyweights were mixed. Samsung Electronics rose 0.81% from the previous session to 281,250 won after falling as low as 262,000 won earlier. SK Hynix gained 4.31% to 1.914 million won after dropping to 1.779 million won.

Hyundai Motor rose 7.28%, Samsung Electro-Mechanics added 5.95%, SK Square climbed 3.11%, Kia gained 2.67% and HD Hyundai Heavy Industries advanced 2.40%. Doosan Enerbility fell 2.95%, Samsung C&T slipped 2.64% and LG Energy Solution lost 1.02%.

The Kosdaq index swung between gains and losses. As of the same time, it was down 0.23 point, or 0.02%, at 1,179.06. Foreign investors were net sellers of 447.2 billion won on the Kosdaq, while retail investors and institutions were net buyers of 409.0 billion won and 38.1 billion won, respectively.

Lee Su, Hankyung.com reporter, 2su@hankyung.com