Korean Stocks Rally: KOSPI Reclaims 7,000 Points on Foreign Buying

South Korea's KOSPI index closed at 7,096.89 on the 23rd, up 299.19 points (4.40%) from the previous session, reclaiming the 7,000-point threshold for the first time since the 15th — a five-trading-day gap. The rally was driven by foreign investors' net buying of 2.1351 trillion won and recovering sentiment in semiconductor stocks following Alphabet's second-quarter earnings release. Alphabet, Google's parent company, reported quarterly revenue of $119.8 billion, surpassing the market estimate of $116.9 billion and providing a positive backdrop for tech-heavy indices.

KOSPI Recovers 7,000-Point Level on Foreign Buying

The KOSPI opened at 6,963.35, up 2.44%, and extended gains throughout the session as foreign capital flowed into the market. Samsung Electronics closed at 270,000 won, up 3.65%, while SK Hynix rose 4.86% to 1,919,000 won. Samsung Electro-Mechanics and Hyundai Motor gained 7.66% and 3.35%, respectively. Foreign investors purchased a net 2.1351 trillion won worth of shares on the Korea Exchange, while retail investors sold 2.2096 trillion won worth of equities.

KOSDAQ Surges Over 5 Percent with Intraday Buy Sidecar Triggered

The KOSDAQ index closed at 790.28, posting gains exceeding 5% on combined buying from foreign and institutional investors. Large-cap stocks in the secondary battery, pharmaceutical-biotech, and robotics sectors led the advance, triggering an intraday buy-side sidecar mechanism. Alteogen surged 14.37%, while EcoPro and EcoPro BM rose 9.95% and 9.34%, respectively. Rainbow Robotics and ABL Bio climbed 6.17% and 7.06%. Foreign investors bought 133 billion won and institutions purchased 60.3 billion won worth of KOSDAQ-listed shares.

Foreign Investors Net Buy 2.13 Trillion Won, Retail Investors Sell

Net investor flows on the 23rd showed foreign participants acquiring 2.1351 trillion won in equities, offsetting retail sales of 2.2096 trillion won. On the KOSDAQ, foreign buying totaled 133 billion won and institutional buying reached 60.3 billion won, supporting the index's sharp upward move.

FAQ

What caused the KOSPI to recover the 7,000-point level on the 23rd?
The KOSPI reclaimed 7,000 points due to foreign investors' net buying of 2.1351 trillion won and improving sentiment in semiconductor stocks after Alphabet reported second-quarter revenue of $119.8 billion, exceeding the market estimate of $116.9 billion.

Why was a buy-side sidecar triggered on the KOSDAQ on the 23rd?
The KOSDAQ's intraday buy-side sidecar was triggered as the index surged over 5%, driven by sharp gains in large-cap stocks across the secondary battery, pharmaceutical-biotech, and robotics sectors, with combined foreign and institutional buying totaling 193.3 billion won.