As semiconductor-related stocks surged, with SK hynix hitting the daily upper price limit for the first time ever during trading, the KOSPI index also soared by 18%. The KOSDAQ index climbed by more than 10%.
On July 31, the KOSPI closed at 6,595.45, up 1,001.89 points (17.91%) from the previous trading day. After opening at 5,657.79, which was 64.23 points higher than the day before, the KOSPI soared rapidly, triggering a buy-side sidecar. At around 9:06 a.m., due to volatility in the KOSPI 200 futures index, program buy orders were suspended for five minutes in the KOSPI market. At the time of the sidecar activation, the KOSPI 200 futures index had jumped 129.90 points (14.97%) from the previous closing price to 997.50. Just one second after the sidecar was triggered in the KOSPI market, a buy-side sidecar was also activated in the KOSDAQ market.
After fluctuating, the index regained momentum around 1:20 p.m. and finished up close to 18% higher. The KOSPI’s gain on this day marks its highest ever, surpassing the previous record set on October 30, 2008 (11.95%) when the U.S.-Korea currency swap agreement provided a boost during the global financial crisis.
https://www.asiae.co.kr/en/article/2026073115513003224
South Korean Index soar 15% – Biggest 1 day gain in its history
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