5% rebound follows plunge, as JPMorgan turns more bullish
South Korean stocks rebounded sharply Tuesday, as investors looked past heightened volatility, with the Kospi jumping more than 5 percent in a day after an equally sharp slump dragged the benchmark back below the 5,000 mark.
The index opened 3.3 percent higher at 5,114.81 and quickly extended gains, climbing past 5,200 and touching an intraday high of 5,257.98, up more than 6 percent, in the afternoon.
Surging demand prompted the exchange operator to trigger a buy-side sidecar about 30 minutes into the session, the first such halt in around 10 months.
Continue Reading on The Korea Herald
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.