KOSPI Surges Nearly 6%, Foreign Investors Net Buy ₩1.7 Trillion Worth of Stocks

BlockBeats News, August 20th. The South Korean stock market closed up nearly 6% on Thursday, rebounding from the sharp decline in the previous trading day, driven by gains in chip stocks following shareholder return measures and a drop in US bond yields. Chip manufacturer SK Hynix rose 12.73% on Thursday after the company announced a stock buyback and cancellation of treasury shares; its counterpart Samsung Electronics rose 9.49%.

Earlier, there were reports that Samsung Electronics will also announce a new shareholder return policy by the end of this month. A total of 905 stocks were traded that day, with 521 rising and 338 falling. Foreign investors net bought 1.7 trillion Korean won (approximately $1.2 billion) worth of South Korean stocks. (KTB)