Photo : YONHAP News
The benchmark Korea Composite Stock Price Index(KOSPI) recovered to the eight-thousand range on Tuesday after posting a record gain of more than 600 points.
The KOSPI rose 612-point-52 points, or eight-point-18 percent, on Tuesday to close at eight-thousand-96-point-93.
This marked the index’s largest single-day gain, surpassing the second-highest jump of 606-point-64 points on May 21.
The surge came after the KOSPI suffered a decline for three consecutive sessions and after it had plunged by more than eight percent to under eight-thousand points on Monday.
The sharp increase in the index and the tech-heavy KOSDAQ had prompted the Korea Exchange to activate its buy-side “sidecar” mechanism at one point during trading.
The gains in the KOSPI were led by net purchases by institutional investors who bought some two-point-five trillion won worth of stocks.