Foreign Investors Net Buy Over 5 Trillion Won in Korean Stocks for Third Day; KOSPI Enters Bull Market
On August 13, South Korea's stock market rose for a fourth consecutive session, with the KOSPI closing at 6,813.34 points, reclaiming the 6,800 level and up about 23% from its July 30 low, entering a technical bull market. Over the two sessions of August 12 and 13, the KOSPI gained more than 7%. Samsung Electronics and SK Hynix each rose over 11%. During the rally, Singapore's sovereign wealth fund Temasek reportedly plans to make its first investment in South Korea, targeting Samsung Electronics and SK Hynix, with the investment to be executed directly by an internal Temasek team. Temasek has contacted the Korean government to discuss the timing.
On August 13, South Korea's stock market rose for a fourth consecutive trading day, with the KOSPI index closing at 6,813.34 points, reclaiming the 6,800-point level. The index has rebounded approximately 23% from its low on July 30, entering a technical bull market. Over the two trading sessions of August 12 and 13, the KOSPI accumulated a gain of more than 7%. Both Samsung Electronics and SK Hynix recorded cumulative gains exceeding 11%.
During the continuous rally in Korean stocks, news emerged that Singapore's sovereign wealth fund Temasek plans to make its first investment in South Korea. Temasek is planning to invest in Samsung Electronics and SK Hynix, with the investment to be conducted directly by an internal Temasek team. Temasek has already contacted the South Korean government and is discussing the timing of the investment execution.