[DigitalToday reporter Oh Sang-yup (오상엽)] South Korea's KOSPI is rebounding more than 3 percent in early trade on bargain hunting after a recent sharp fall. Major semiconductor stocks such as Samsung Electronics and SK Hynix are strong, leading the index recovery.

As of 9:12 a.m. on July 9, the KOSPI is up 265.85 points, or 3.67 percent, from the previous session at 7,512.64.

The index opened up 239.85 points, or 3.31 percent, from the previous close at 7,486.64 and is extending gains.

In the main board market, foreign investors and institutions are net buyers of 89.0 billion won and 152.6 billion won, respectively. Retail investors are net sellers of 236.1 billion won.

Among top market-cap stocks, chipmakers are rebounding. Samsung Electronics is up 13,000 won, or 4.68 percent, from the previous session at 290,500 won. SK Hynix is up 181,000 won, or 8.72 percent, at 2,257,000 won.

SK Square is also up 7.40 percent, Samsung Electro-Mechanics is up 6.29 percent and Samsung C&T is up 2.91 percent.

Hyundai Motor is down 2.59 percent, LG Energy Solution is down 0.95 percent, Samsung Life is down 3.32 percent and Samsung Biologics is down 1.17 percent.

The KOSDAQ is also edging higher. At the same time, the KOSDAQ is up 2.26 points, or 0.29 percent, from the previous session at 787.26. It has yet to reclaim the 800 level after falling below it a day earlier.

In early trade, the won-dollar exchange rate is 1,500.40 per dollar, down 6.60 won, or 0.44 percent, from the previous session.

The brokerage sector sees a rebound in U.S. semiconductor stocks and a view that domestic shares had fallen too far as driving the rebound. On July 8 local time, U.S. stocks rose, and the Philadelphia Semiconductor Index gained as bargain hunting flowed into chipmakers such as Micron and SanDisk despite uncertainty over the U.S.-Iran war.

Han Ji-young (한지영), a researcher at Kiwoom Securities, analysed that expectations point to a rebound as bargain-hunting incentives build, including a rebound in U.S. semiconductor shares and a recovery of more than 4.1 percent in KOSPI 200 night futures amid perceptions that the market has fallen too far after three straight sessions of sharp drops.