The KOSPI closed at 2,522.15, up 80.60 points or 3.3 percent from the previous trading day.
The index began the session at 2,533.34, marking an increase of 91.79 points or 3.76 percent from the prior close. At one point, it surged by as much as 5.62 percent.
On Monday, the KOSPI had plunged by 8.77 percent, the largest single-day drop in 16 years, as global markets reacted to fears of a U.S. economic recession.
The KOSDAQ index, which had fallen by 11.3 percent the previous day, also saw a strong recovery, closing at 732.87, up 41.59 points or 6.02 percent, and moving back above the 700 level.
At 9:06 a.m., sidecars were activated on both exchanges in response to sharp surges in futures indexes. The last instances of sidecars being triggered due to buying pressure on the KOSPI and KOSDAQ markets occurred on June 16, 2020, and November 6, 2023, respectively.
Sidecar orders are activated when prices fluctuate by 5 percent or more compared to their previous close and remain at that level for over a minute.
On Monday, the curb was imposed due to significant declines in the markets.
reporter
Kim Joo-heon
jhkim123@ajunews.com
