SoftBank Group shares surge 11% as Asian tech stocks rally after Wall Street rebounds
Asian tech shares rallied as the KOSPI surged 5.49% and Korea Exchange briefly halted program trading after Wall Street’s overnight rebound.
- On Tuesday, the Korea Composite Stock Price Index surged, prompting the Korea Exchange to activate a buy-side sidecar that suspended program trading for five minutes at 9:06 a.m.
- Asian technology stocks surged Tuesday, tracking overnight Wall Street gains as eased military tensions in the Middle East lifted sentiment amid hopes for diplomatic talks ending the U.S.-Iran war.
- Semiconductor shares led the rebound, with the PHLX semiconductor index jumping 6.85 percent. Market bellwether Samsung Electronics rose 5.85 percent, while chipmaker SK hynix soared 8.63 percent.
- As of 9:10 a.m., the KOSPI added 240.01 points, or 4.78 percent, to 5,258.86. Defense giant Hanwha Aerospace rose 4.85 percent, and major banking group KB Financial Group increased 4.31 percent.
- The rally followed last week's bruising sell-off, with renewed buying in chip names spilling over into Asia as falling oil prices calmed inflation fears. Sentiment across the region improved despite a scandal swirling around Nvidia CEO Jensen Huang.
13 Articles
13 Articles
The KOSPI rebounded sharply on the 10th as the perception spread in the market that the so-called "Blue Wave" shock—in which AI and semiconductor-related stocks plummeted on expectations that the U.S. Democratic Party would tighten regulations on the AI industry—was excessive. International oil prices fell sharply on expectations that the war between the U.S. and Israel, as well as between Iran, would end.
The KOSPI index opened more than 4% higher, driven by a rebound in U.S. tech stocks and falling international oil prices. Market volatility is extreme, with buy-side circuit breakers being triggered in succession in both the KOSPI and KOSDAQ markets immediately after the opening. On the 10th, the KOSPI index started trading at 5,247.22, up 228.37 points (4.55%) from the previous trading day. Earlier in the session, as KOSPI 200 night futures ros…
The Korea Times
korean-vibe.comKRX activates buy-side sidecar for KOSPI on sharp rise
Korea's bourse operator on Tuesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index rose sharply. Program trading for the KOSPI-listed shares was suspended for five minutes at 9:06 a.m., according to the Korea Exchange (KRX). After opening 4.55 percent higher, the KOSPI added 240.01 points, or 4.78 percent, to 5,258.86 as of 9:10 a.m. The index rallied on strong tech gains following over…
(Seoul = Yonhap News) Reporter Lim Eun-jin = On the 10th, attention is focused on whether the KOSPI can rebound from its recent sharp decline, influenced by the rebound in U.S. tech stocks and the plunge in international oil prices.
[Digital Daily, Reporter Kang Ki-hoon] As the US semiconductor index surged by more than 6%, Samsung Electronics and SK hynix strengthened together and boosted COSPI by nearly 5%. COSPI recovered to the 5200 mark at the beginning of the market, and buying sidecars were launched one after another in the major markets of COSPI and KOSDAQ. According to the financial investment industry on the 10th, as of 9:09 a.m. on the same day, COSPI traded at 5…
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