Photo : YONHAP News
The benchmark Korea Composite Stock Price Index(KOSPI) recovered to the six-thousand range on Wednesday, increasing more than six percent.
The KOSPI rose 374-point-10 points, or six-point-63 percent, on Wednesday to close at six-thousand-12-point-44, reclaiming the six-thousand level after ten trading sessions.
The Korea Exchange activated a buy-side sidecar for the second day on the main bourse after KOSPI 200 futures surged more than five percent during intraday trading on Wednesday.
Major tech stocks posted gains on the New York Stock Exchange overnight after investor sentiment in the semiconductor sector rebounded on news of U.S. AI company Anthropic taking a major step toward an initial public offering on the Nasdaq.
The KOSPI jumped after SK hynix forecast in a conference call that demand for DRAM and high-bandwidth memory will be strong and memory industries will see high profitability.
SK hynix shares surged ten-point-89 percent, while Samsung Electronics shares climbed nine-point-01 percent, on anticipation over third-quarter earnings and shareholder return initiatives.