Circuit breaker! The Korean stock market surges 11%

【Guide】 South Korean and Japanese stock markets rebound strongly, with South Korea’s KOSPI index gains widening to 11% and the Nikkei 225 index soaring 4%

South Korean and Japanese stock markets rebound strongly!

On March 5, the Korean market opened with a straight-line surge, and the KOSPI index’s gain widened to 11%. Due to the sharp rise in the index, the Korea Exchange activated the KOSDAQ index circuit breaker mechanism, pausing algorithmic trading for 5 minutes.

Shares of Samsung Electronics, SK Hynix, and Hyundai Motor all rose by more than 12%.

In Japan, the market climbed strongly as well, with the Nikkei 225 index’s gain widening to 4%.

In terms of heavyweight stocks, Toyota Motor, Mitsubishi UFJ Financial, Hitachi, and SoftBank Group led the gains.

On the news front, Lee Eog-weon, Chair of the Korea Financial Services Commission, said on Wednesday that South Korea is closely monitoring the stock market, and if market volatility becomes too large, it will actively deploy its market stabilization plan of 100 trillion won (approximately over RMB 470 billion).

He said that South Korea is closely monitoring for disruptive market behaviors that may occur during periods when stock-market volatility intensifies, and will severely punish any violations.

Editor: Huang Mei