[Digital Today reporter Sangyeob Oh (오상엽)] The KOSPI edged up on Wednesday after swinging between gains and losses. Volatility has risen in recent days as sharp drops and rebounds have alternated in South Korean stocks. The KOSDAQ surged more than 4 percent and triggered a buy-side sidecar during the session.

The KOSPI ended up 33.13 points, or 0.43 percent, at 7,763.95. It opened at 7,509.62, down 221.20 points, or 2.86 percent, and slid to as low as 7,394.46 before trimming losses.

The KOSPI has been posting sharp daily swings. It fell more than 8 percent on June 8, then rebounded more than 8 percent on June 9 to recover 8,000. It fell again by more than 4 percent on June 10 to retreat to the 7,700 level, and turned higher on Wednesday after a weak start.

Retail investors supported the index. In the main board market, individuals bought a net 2.0662 trillion won. Foreigners and institutions sold a net 1.4649 trillion won and 743.2 billion won, respectively. Selling by foreigners and institutions continued, but the index ended slightly higher as retail buying flowed in.

Top stocks by market value were mixed. Samsung Electronics closed down 3,500 won, or 1.16 percent, at 299,000 won. It held above 300,000 won a day earlier but fell back below that level on Wednesday. SK Hynix rose 53,000 won, or 2.59 percent, to end at 2,101,000 won, keeping the 2,000,000-won level.

SK Square rose 3.80 percent, and Samsung Electro-Mechanics ended flat. Hyundai Motor fell 0.83 percent, LG Energy Solution lost 0.26 percent and Samsung Life declined 0.82 percent. HD Hyundai Heavy Industries rose 0.78 percent and Samsung C&T gained 0.61 percent.

The KOSDAQ rebounded sharply. The index ended up 45.30 points, or 4.76 percent, at 996.93. The KOSDAQ, which had slid to 951.63 a day earlier, climbed back above the 990 level in a single session.

A buy-side sidecar was also activated during the KOSDAQ rally. The Korea Exchange activated a sidecar at 1:58:59 p.m. on Wednesday, halting the effectiveness of program buy orders in the KOSDAQ market for 5 minutes. At the time, KOSDAQ 150 futures were up 6.15 percent from the previous close and the KOSDAQ 150 spot index was up 4.94 percent.

A sidecar is a market-stabilisation measure designed to reduce the impact of futures price fluctuations on program trading in the spot market. Sharp selloffs and rebounds have alternated in the domestic market recently, triggering sell- and buy-side sidecars in succession.

In the Seoul foreign exchange market, the won was quoted at 1,530.10 per dollar, down 5.60 won from the previous session.