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Seoul, June 09 (QNA) – South Korean stocks rose by more than 8 percent on Tuesday, strongly recovering from the sharp decline in the previous session, thereby regaining the 8,000-point level.
The benchmark KOSPI index added 612.52 points, rising 8.18 percent, to close at 8,096.93 points after having climbed to 8,119.09 points during the session.
With the sharp rise at the opening of trading, the Korea Exchange activated its sidecar mechanism to curb volatility, leading to a five-minute halt in program trading. Program trading was also suspended for five minutes on the KOSDAQ exchange after the same mechanism was triggered.
This rebound came after the KOSPI index fell by more than 8 percent on Monday, amid concerns over artificial intelligence profitability and the possibility of an interest rate hike by the Federal Reserve following stronger-than-expected US jobs data for May. (QNA)
