KOSPI surges past 7,000 points, buying side-car activated

South Korea's KOSPI index experienced a dramatic surge on July 22, 2026, breaking the 7,000-point barrier shortly after the market opened. The benchmark index started the day up 4.51% at 7,052.09 points and continued its upward trajectory, widening its gains to over 5% in early trading.

The rapid ascent triggered the activation of a "buying side-car" mechanism at approximately 9:06 AM. This measure is implemented when KOSPI 200 futures rise by more than 5% for over a minute, aiming to curb excessive volatility. By 9:16 AM, the KOSPI was trading 5.87% higher at 7,147.0 points.

Market activity showed significant foreign buying, with overseas investors purchasing 1.0637 trillion won (approximately $760 million) worth of stocks. In contrast, domestic institutions and individual investors were net sellers, offloading 391.1 billion won and 670.2 billion won, respectively.

Major technology stocks also saw substantial gains. Samsung Electronics traded up 5.79% at 274,000 won, while SK Hynix climbed 8.82% to 1,998,000 won. This marks the first time the KOSPI has surpassed 7,000 points since July 15, a span of four trading days. The KOSDAQ index also followed suit, trading up 4.45% at 786.85 points during the same period.