A dealer monitors the market in the dealing room at Hana Bank's headquarters in Seoul, Wednesday. Korea Times photo by Shim Hyun-chul
“This isn’t a stock market driven by corporate fundamentals anymore. It’s basically a coin toss.”
This was one investor’s verdict on X (formerly Twitter) after one of the most extraordinary weeks in Korean stock market history.
On Friday, the benchmark KOSPI surged 17.91 percent, or 1,001.89 points, to 6,595.45 — its largest one-day gain on record — after three consecutive sessions of losses.
The rally was fueled largely by a sharp rebound in Samsung Electronics and SK hynix as stronger-than-expected earnings from U.S. technology giants revived optimism over artificial intelligence (AI) investment. Foreign investors snapped up more than 7 trillion won ($4.9 billion) in shares.
