Foreign capital flows into chip stocks, driving South Korea's KOSPI index up over 8%

The Odaily reports that on Wednesday, the Seoul stock market returned to the 7,000-point mark. As risk appetite rebounded and foreign buying intensified, South Korea's KOSPI index once surged over 8% during the session. As of 2:30 PM local time, foreign investors net purchased 2.4 trillion Korean won (approximately $1.61 billion) worth of stocks, more than double the nearly 1 trillion Korean won net purchases from the previous day. Institutional investors net bought 180 billion Korean won, a slower pace compared to Tuesday. Retail investors were the only net sellers, offloading nearly 2.5 trillion Korean won worth of stocks. (Jin Shi)