March 10, 2026
SEOUL – South Korea’s benchmark Kospi surged more than 5 percent in early trading Tuesday, rebounding from the previous day’s steep sell-off as expectations grew for an early end to the conflict in the Middle East.
After US President Donald Trump said Monday that the war with Iran “is very complete,” oil prices slipped below $90 per barrel, lifting global stock markets, including those in Korea.
The Kospi opened sharply higher at 5,523.21, up 5.17 percent from the previous session. The index extended its gains in early trading and stood at 5,539.49, rising 5.48 percent as of 9:30 a.m.
The rebound follows a 5.96 percent plunge in the previous session.
Shortly after the market opened, a surge in Kospi 200 futures triggered a buy-side sidecar at 9:06 a.m., temporarily halting program buy orders for five minutes.
Retail investors were net sellers, offloading 447.7 billion won ($305 million) worth of shares. Foreign and institutional investors were net buyers, purchasing 366.9 billion won and 106.4 billion won, respectively.
Large-cap stocks led the rally. Samsung Electronics jumped 8.59 percent, while SK hynix climbed 10.29 percent.
The tech-heavy Kosdaq also gained strongly, opening up 4.15 percent at 1,147.99. As of 9:30 a.m., it was trading at 1,134.52, up 2.92 percent from the previous session.
The Korean won strengthened against the dollar as well. The currency opened at 1,470.8 won per dollar, strengthening 24.7 won from the previous daytime trading close, and was quoted at 1,470.18 per dollar as of 9:30 a.m.