South Korea's KOSPI Rebounds 1.28% on July 9 as SK Hynix, Samsung Electronics Lead Gains After 4-Day Decline

According to Money Today, South Korea's KOSPI index rebounded on July 9 morning after four consecutive days of losses, rising 1.28% to 7,339.22 points. Semiconductor stocks led the recovery, with SK Hynix gaining 5.49% and Samsung Electronics climbing 1.17%.

The rebound was driven by gains in U.S. semiconductor stocks overnight and strong institutional demand for SK Hynix's American Depositary Receipt (ADR) offering, which drew subscriptions over seven times the offered amount, according to Bloomberg. Analysts view current valuations as historically depressed, with the index trading at a 12-month forward P/E ratio of 6.17x, below the 2008 financial crisis low.