KOSPI gains 2.1 percent after Warsh comments
Published on 10/16/2026 at 13:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRebound drivers and dates
- KOSPI ended October 16 at 5,668 points, up 114 points or 2.1 percent.
- Fed Chair Kevin Warsh supported AI optimism as KOSPI recovered 2.1 percent.
- Hyundai Motor gained 5.6 percent, while Hanwha Aerospace rose 7.8 percent.
- The Bank of Korea meets on October 22 with its policy rate at 3.00 percent.
The KOSPI closed at 5,668 points on October 16, up 114 points or 2.1 percent. Yonhap News Agency linked the rebound to bargain hunting in chip stocks and renewed bets on Federal Reserve rate hikes.
Hyundai Motor rose 5.6 percent, making it one of the strongest large-cap gainers. Hanwha Aerospace added 7.8 percent and Celltrion gained 6.5 percent, Yonhap reported.
Why did the KOSPI rebound after seven losses?
The index recovered after falling 7.6 percent on October 15. Investors bought large-cap technology shares after the previous session's semiconductor sell-off. Foreign investors became net buyers of KRW 343.5 billion, while retail and institutional investors sold a combined KRW 1.17 trillion.
Fed Chair Kevin Warsh expressed confidence in the U.S. economy and described artificial intelligence as a major technological change. His comments eased concerns about AI financing risks, The Korea Times reported.
Hyundai Motor leads the KOSPI rebound
Advancers outnumbered decliners 757 to 134. Samsung Electronics rose 2.6 percent and SK hynix gained 0.8 percent. The breadth of the move extended beyond semiconductors into autos, defense and biotechnology, with the closing moves detailed by Yonhap.
Won strength and lower bond yields support risk appetite
The won strengthened to 1,331.4 per USD by 3:30 p.m. KST. The three-year government bond yield fell to 3.854 percent, while the five-year yield declined to 3.988 percent. Trading volume reached 286.5 million shares, valued at KRW 20 trillion, Yonhap said.
South Korea's government said September exports rose 83.5 percent year over year. Semiconductor exports increased 263 percent, while the average daily export value reached USD 5.63 billion, The Chosun Daily reported.
What comes next for the KOSPI
- October 19, 2026, 9:00 a.m. KST: The KOSPI begins its next regular session.
- October 22, 2026: The Bank of Korea holds its next policy meeting with the base rate at 3.00 percent, Yonhap reported.
- October 28 and October 29, 2026: SK hynix and Samsung Electronics are scheduled to release third-quarter earnings, The Korea Times reported.
