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Kospi up for 2nd day on bargain hunting amid Iran woes

Published: 11 Mar. 2026, 16:51

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 5,609.95 on March 11, up 77.36 points, or 1.4 percent, from the previous trading session. [YONHAP]

Shares finished higher for the second straight session Wednesday as investors hunted for bargains amid the market's recent volatility caused by the Iran war. The local currency rose against the greenback.

The benchmark Kospi moved up 77.36 points, or 1.4 percent, to close at 5,609.95 after rising as high as 5,746.36.

Trade volume was heavy at 1 billion shares worth 26.3 trillion won ($17.9 billion), with gainers far outpacing losers 701 to 198.

Individual investors sold a net 508 billion won, and foreigners offloaded a net 255.4 billion won. Institutions bought a net 781 billion won.

The Korean stock market has been roiled by the escalating Middle East crisis this week, dipping 5.96 percent Monday and rebounding 5.35 percent Tuesday.

Investors scooped up blue-chip shares following the recent correction as they closely monitored the situation at the Strait of Hormuz, where the passage of ships has been virtually suspended in the wake of the conflict.

The Kospi closed at a record high of 6,307.27 on Feb. 26, soaring from 4,309.63 posted on the first trading day of 2026, largely led by chipmakers amid the global AI boom, before facing increased volatility due to the Iran war.

"Amid lingering geopolitical tensions in the Middle East, the stock market is gradually recovering from such issues," said Lee Kyoung-min, a researcher at Daishin Securities.

In Seoul, top tech giant Samsung Electronics jumped 1.12 percent to 190,000 won, and SK hynix gained 1.81 percent to 955,000 won.

Brokerage houses closed bullish amid signs of the market's eased fear over the Iran war, with Mirae Security Assets rising 10.53 percent to 71,400 won and Kiwoom Securities climbing 5.51 percent to 450,000 won.

Battery makers finished mixed, with LG Energy Solution increasing 0.65 percent to 369,500 won and Samsung SDI falling 0.87 percent to 400,000 won.

Top pharmaceutical firm Samsung Biologics rose 4.08 percent to 1,657,000 won, and Celltrion climbed 1.46 percent to 209,000 won.

The won strengthened 2.7 won from the previous session to trade at 1,466.5 against the dollar as of 3:30 p.m.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 3 basis points to 3.25 percent, and the return on the benchmark five-year government bonds lost 3.8 basis points to 3.47 percent.

Yonhap