KOSPI Soars 9.63%... KOSDAQ Records Highest-Ever Gain

After plunging for two consecutive days, the KOSPI made a sharp rebound, recovering the 5,550 level, while the KOSDAQ soared by 14%.

On the 5th, as the KOSPI surged sharply in early trading triggering a buy-sidecar, an employee at the Seoul Hana Bank headquarters dealing room is monitoring the stock market and exchange rates. Photo by Jo Yongjun

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On March 5, the KOSPI closed at 5,583.90, up 490.36 points (9.63%) from the previous session. Individual investors made net purchases totaling 1.7929 trillion won. Foreign investors and institutions recorded net sales of 156.7 billion won and 1.7152 trillion won, respectively. All industry sectors saw significant gains. Metals rose by 9.67%, transportation equipment and parts by 8.89%, financials by 8.26%, pharmaceuticals by 8.02%, insurance by 8.01%, chemicals by 7.97%, and telecommunications by 7.2%.

Among the top large-cap stocks by market capitalization, Samsung Electronics (11.38%), SK hynix (11.43%), Hyundai Motor (9.38%), LG Energy Solution (7.34%), Samsung Biologics (8.77%), and SK Square (11.83%) all posted significant gains.

The previous day, the KOSPI had plunged 698.37 points (12.06%) due to the outbreak of war between the United States and Iran, marking the largest single-day point drop and decline rate in history. On March 3, the index had also fallen by 452.22 points (7.24%), resulting in a total loss of 1,150.59 points (19.3%) over two days.

The KOSDAQ index closed at 1,116.41, up 137.97 points (14.10%) from the previous session. This was the highest daily gain in the index’s history, surpassing the previous record of 11.47% set on October 30, 2008, after 17 years and 4 months.

Foreign investors and institutions posted net purchases of 837.8 billion won and 741.7 billion won, respectively, while individual investors recorded net sales of 1.5529 trillion won. All major large-cap stocks on the KOSDAQ saw sharp increases, including Ecopro (20.18%), Alteogen (12.05%), Ecopro BM (18.00%), Sam Chun Dang Pharm (23.41%), and Rainbow Robotics (18.89%).

Following the sharp rebound after the previous day's plunge, both the KOSPI and KOSDAQ triggered temporary trading halts (sidecars) on program buy orders. According to the Korea Exchange, at 9:06:02 a.m. on this day, due to volatility in the KOSPI 200 futures index, program buy orders were halted for five minutes. At the time of the trigger, the KOSPI 200 futures index had risen 82.60 points (10.84%) from the previous closing price to 844.00. This was the first time a KOSPI buy-side sidecar had been triggered in a month, since March 3.

Volatility in the KOSDAQ 150 futures price and the KOSDAQ 150 index also triggered a five-minute halt on program buy orders. At the time of the trigger, the KOSDAQ 150 futures were up 178.40 points (10.40%) from the previous close, and the KOSDAQ 150 index was up 187.18 points (10.92%). The KOSDAQ sidecar was triggered for the first time in about a month, since February 19.

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