Korean stocks moved higher as investors returned to the market after last week’s sharp drop. They bought undervalued shares, especially blue chips. Optimism over a possible US interest rate cut also lifted sentiment. Meanwhile, the Korean won strengthened against the US dollar.
The Kospi rose 28.34 points and closed at 3,147.75. Bargain hunters helped drive the rebound. Last week’s losses followed a tax proposal targeting corporations and stock investors. However, reports of a potential policy change boosted investor confidence.
Foreign and institutional investors led the buying. They picked up a total of 215 billion won in shares. On the other hand, retail investors sold about 300 billion won. This shift in flow supported Korean stocks across key industries.
Market experts said bargain buying drove the gains. Weaker US jobs data added fuel by raising hopes of a Fed rate cut. That expectation helped investors regain their appetite for risk. Local news on the tax bill’s review also supported the rally.
Several major Korean stocks saw solid gains. Samsung Electronics rose 1.16 percent to 69,700 won. Naver jumped over 3 percent on expectations for AI industry support. Doosan Enerbility surged 4.72 percent, leading the day’s advances.
Other sectors also posted strong results. Korea Electric Power climbed nearly 3 percent. Hyundai Rotem advanced 3.09 percent in defense. In biotech, Samsung Biologics and Celltrion each gained over 1 percent.
Carmakers also contributed to the rally in Korean stocks. Hyundai Motor rose 0.48 percent. Kia climbed 1.98 percent on steady demand for exports. However, shipbuilders pulled back after a recent rally.
HD Hyundai Heavy fell 2.73 percent. Hanwha Ocean dropped 2.64 percent. HD Korea Shipbuilding declined 1.6 percent. Those stocks had jumped earlier due to a US investment pledge.
Despite those losses, most sectors ended the day higher. The Korean won gained 16.2 won against the dollar. This currency move added to overall investor optimism.
Korean stocks finished the session with broad gains across sectors. Rate cut hopes and bargain buying helped reverse the recent downtrend. Investors now wait for more signs from global markets.
