KOSPI closes 2.24% higher at 5,859.08 after early sell-off
Published on 11/02/2026 at 19:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKOSPI stages sharp rebound
- The KOSPI closed at 5,859.08 on November 2, 2026, gaining 2.24 percent after an initially weak start.
- Institutional buying supported semiconductor shares as foreign and retail investors remained net sellers.
- Samsung Electronics and SK hynix rose as investors reassessed concerns about AI spending and chip demand.
The KOSPI staged a strong rebound on Monday, November 2, 2026, after opening under pressure from a sell-off in U.S. technology shares. The benchmark Korea Composite Stock Price Index closed at 5,859.08, up 128.34 points, or 2.24 percent, from the previous session. The close followed a decline of more than 3 percent on the preceding trading day.
According to Yonhap News Agency, the index opened 1.62 percent lower but later climbed as high as 5,910.83. Institutional investors bought a net 1.23 trillion won, while foreign and retail investors together sold a net 1.72 trillion won. The breadth of the session was positive, with 651 advancing stocks compared with 229 decliners.
Semiconductor shares lead recovery
Large-cap technology stocks helped reverse the early losses. Samsung Electronics gained 1.78 percent to 229,000 won, while SK hynix rose 3.81 percent to 1,472,000 won. Semiconductor, shipbuilding and defense stocks were among the stronger-performing groups, according to Yonhap.
The rebound came despite renewed doubts about the returns from large-scale artificial-intelligence investment. Intel had fallen sharply in the United States after issuing weaker-than-expected fourth-quarter sales guidance and citing pressure in the personal-computer market. Investors in Seoul nevertheless reassessed whether the news was more negative for PC manufacturers than for memory-chip suppliers.
The Korea Times reported that investors also drew support from South Korea's export performance. October exports exceeded 115 billion U.S. dollars, while semiconductor exports increased 259 percent year on year. The report said institutional buying helped the market recover even as investors continued to debate the profitability of AI-related spending.
Volatility remains a consideration
Monday's advance restored part of the losses from the previous session but did not remove the market's sensitivity to global technology sentiment. Continued foreign selling and uncertainty over the earnings outlook for major U.S. technology companies remain potential sources of volatility. The latest move therefore represents a sharp session rebound rather than conclusive evidence of a lasting trend reversal.
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