South Korea's KOSPI rallies 4.1% after nearly 10% drop
Business
South Korea's KOSPI index made a big comeback on Wednesday, bouncing up 4.1% after a steep nearly 10% drop the day before.
The market opened strong, climbing over 330 points to hit 8,550.21, with chip giants SK Hynix and Samsung Electronics leading the charge, up 5% and more than 9%.
Retail buying fuels KOSPI rally
This rally was mostly powered by retail investors buying the dip out of FOMO, according to Mirae Asset Securities strategist Seo Sang-young.
He pointed out that many were eager to snag bargains after yesterday's tumble.
Even though KOSPI has jumped over 100% this year, Seo warned that upcoming US economic data could shake things up again, so volatility isn't off the table yet.