South Korean equities rose on Tuesday, seeking their first daily advance since last week’s short-lived martial law thrust the country into political turmoil.
The Kospi Index rose as much as 2% in early trading, after recent losses pushed the benchmark to the brink of bear market territory.
The small-cap Kosdaq gauge jumped nearly 4%. The aggregate market value of companies included in the two gauges declined by US$100 billion ($134 billion) in four sessions through Monday.
The rebound comes as authorities have repeatedly vowed all steps to stabilise sentiment, describing the latest market moves as “excessive” when considering the country’s economic fundamentals.
While President Yoon Suk Yeol narrowly survived a parliament vote to impeach him over the weekend, the opposition has vowed to continue pushing for his removal.
