Fintech

KOSPI surges over 7 percent to reclaim 8,300 level; Kosdaq also back above 1,000

South Korea\'s KOSPI rose more than 7 percent early on Thursday, reclaiming the 8,300 level as investor sentiment improved after overnight gains on Wall Street. Semiconductor heavyweights including Samsung Electronics and SK Hynix led the advance. A buy-side car was triggered for the first time in three sessions as KOSPI200 futures surged. The Kosdaq also jumped, returning above 1,000. The won weakened to 1,521.80 per dollar.

Finance

SpaceX confirms IPO to raise more than 100 trillion won, contrasting with Korea\'s big-deal drought

SpaceX is proceeding with a Nasdaq listing and confirmed an offering of 555,555,555 common shares at $135 each, implying about $75 billion in proceeds, with potential upside if an overallotment option is exercised. In South Korea, the IPO market remains subdued despite a strong stock market. New listings and fundraising are limited, with a shortage of large deals and weak post-listing share performance weighing on sentiment.