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KOSPI Rebounds 4% on Tech Rally, Oil Drop
Korean stocks surged more than 4 percent on Nov. 10, snapping a three-day slide, as easing Middle East tensions and an overnight rally in U.S. semiconductor shares revived risk appetite. The benchmark KOSPI closed at 5,239.13, up 4.39 percent, according to the Korea Times. Yonhap also reported the market finished more than 4 percent higher, and Business Korea noted the rebound came in four trading days, boosted by tech stock gains from the U.S. market and recovering investor sentiment. KBS World attributed the sharp rebound to investor sentiment toward AI and semiconductor stocks picking up after earlier concerns that U.S. midterm election results could slow AI investment. The rebound followed a 1.66 percent gain on Nov. 9, when Seoul stocks reversed course on a chip rebound, and came after earlier sessions of steep losses, including a 3 percent rebound on Oct. 21 on eased AI spending woes and a 2 percent gain on Nov. 2 on bargain hunting.
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