South Korea's KOSPI edged up after three straight sessions of sharp declines. SK Hynix rose more than 5 percent a day ahead of its American depositary receipt (ADR) listing, leading the index's recovery.

On July 9, the KOSPI closed up 45.12 points, or 0.62 percent, at 7,291.91. The index opened up 239.85 points, or 3.31 percent, at 7,486.64, then at one point slid as far as 7,063.76, with volatility continuing.

In the main bourse, foreign investors and institutions were net buyers of 134.9 billion won and 1.287 trillion won, respectively. Retail investors were net sellers of 1.3272 trillion won.

Among top market-cap stocks, SK Hynix was strong. It closed up 110,000 won, or 5.30 percent, at 2,186,000 won. With its ADR listing scheduled for the next day, expectations of broader access for global investors appear to have been reflected.

Samsung Electronics ended up 500 won, or 0.18 percent, at 278,000 won. SK Square and Samsung Electro-Mechanics also rose, gaining 4.49 percent and 0.95 percent, respectively.

In contrast, Hyundai Motor, LG Energy Solution, Samsung Life Insurance, Samsung C&T and Samsung Biologics fell, down 3.68 percent, 0.63 percent, 5.78 percent, 4.18 percent and 2.79 percent, respectively.

The Kosdaq also rebounded. It ended up 9.00 points, or 1.15 percent, at 794.00. It failed to recover the 800 level that it broke the previous day.

As of the market close, the won-dollar exchange rate was 1.40 won, or 0.09 percent, higher than the previous session at 1,508.40 per dollar.

In the market, the rebound was driven by perceptions that recent steep falls had been excessive, but concerns over volatility surrounding semiconductor stocks and the Kosdaq are still seen as remaining.

In particular, overseas flows after SK Hynix's ADR listing and price movements in its domestic shares are expected to act as short-term variables for the stock market.