Samsung Electronics (005930.KS) and SK Hynix (000660.KS) surged in tandem, powering a broad rally in South Korean equities. The KOSPI closed up 107.73 points, or 1.64%, at 6,687.21 on the 4th, extending gains for a second consecutive session. The KOSDAQ soared 2.95%, snapping a four-day losing streak and reclaiming the 800 level.

The benchmark index opened 1.14% higher at 6,654.36 and climbed as high as 6,746.14 intraday. At one point, gains reached 2.53%, though the index failed to hold all of its advance into the close. The rebound fell short of the 6,835.80 close on the 1st — the session before the 3.99% plunge on the 2nd — meaning the index only partially recovered its losses.

Large-cap semiconductor names anchored the rebound. SK Hynix rose 3.20% to close at 1.647 million won (approximately $1,200), while Samsung Electronics gained 2.20% to 255,500 won (approximately $190). Intraday, SK Hynix climbed as much as 3.95% and Samsung Electronics as much as 2.60%.

The divergence between large-caps and smaller names was stark. The KOSPI large-cap index rose 1.76%, while mid-cap and small-cap indices managed gains of just 0.09% and 0.71%, respectively. The market advanced broadly, but the intensity of the rebound was concentrated in large-cap stocks.

Trading flows showed a sharp split among investor categories. Retail investors offloaded a net 3.7225 trillion won (approximately $2.8 billion) on the main KOSPI board, locking in profits. Institutional investors bought a net 1.6691 trillion won (approximately $1.2 billion), while foreign investors purchased a net 503.4 billion won (approximately $373.9 million). Other corporations also showed net buying of 1.5741 trillion won (approximately $1.2 billion), absorbing the supply dumped by retail investors. Among institutions, financial investment firms led the buying with net purchases of 1.1867 trillion won (approximately $881.5 million), while investment trusts and pension funds bought 321.9 billion won (approximately $239.1 million) and 84.6 billion won (approximately $62.8 million), respectively.

The KOSDAQ outperformed the KOSPI. The junior index closed up 23.29 points, or 2.95%, at 813.50, ending a four-session losing streak that began on the 31st of last month. The 800 level surrendered the previous day was recovered in a single session. KOSDAQ trading volume reached approximately 6.6492 trillion won (approximately $4.9 billion), up 34.9% from the previous day’s roughly 4.9287 trillion won (approximately $3.7 billion), signaling a rapid revival in investor sentiment.

Among large-cap KOSDAQ names, Naver (035420.KS) rose 2.89% and Celltrion (068270.KS) added 0.27%. On the KOSPI, however, financial and select large-cap stocks lagged: Shinhan Financial Group (055550.KS) fell 3.49%, KB Financial Group (105560.KS) dropped 3.32%, Samsung Biologics (207940.KS) declined 2.64%, Samsung Life Insurance (032830.KS) lost 2.15%, and LG Energy Solution (373220.KS) slipped 1.92%.

Japanese equities also advanced. The Nikkei 225 traded up 0.87%, opening 0.44% higher at 64,498.94 before extending gains.

The previous day, all three major U.S. indices rose more than 1%, underpinning investor sentiment. Tesla surged over 5%, and SpaceX climbed more than 6%. Semiconductor stocks were mixed: the Philadelphia Semiconductor Index edged up 0.11%, with ARM gaining over 3% and Nvidia rising more than 1%, while Broadcom fell over 2%.

This rebound marks a second consecutive session of recovery following the KOSPI’s near-4% plunge on the 2nd. Foreign and institutional buying concentrated in large-cap semiconductor names is driving the market’s effort to recoup losses. However, sustained heavy retail selling could cap upside momentum, according to some market observers.