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Chip Rally Lifts KOSPI to Highest Since Nov. 3 After SK Hynix Warning Ends

Foreign investors returned to buying after the exchange removed SK hynix’s warning.

Overview

  • The KOSPI rose 2.2% to 4,220.56, the strongest close since Nov. 3, on moderate turnover of 14.35 trillion won with losers outnumbering winners 571 to 316.
  • KRX lifted a 10-session investment warning on SK hynix, sending the stock up 6.84% and supporting gains in Samsung Electronics and other chip names.
  • Foreign investors were net buyers of 331.46 billion won, while institutions and retail investors posted net sales of 285.96 billion won and 9.06 billion won, respectively.
  • The won strengthened to 1,429.8 per U.S. dollar, its firmest level since Nov. 3, as officials had signaled readiness to counter previous currency weakness.
  • Sector moves diverged as Hanwha Aerospace jumped 9.08% and Doosan Enerbility climbed 3.94%, while LG Energy Solution fell after canceling a 3.9 trillion won supply deal with FBPS; in early trade Tuesday, the KOSPI slipped 0.33%.