INTEL: South Korea’s KOSPI jumps 3.46% at open on AI optimism and easing oil prices

South Korea’s benchmark KOSPI opened 3.46% higher on Tuesday, tracking gains on Wall Street as optimism around artificial intelligence returned and oil prices eased.

The move came after a sell-off in AI-related stocks. Market reports described Asia-Pacific markets as starting mixed, with Japanese and South Korean shares rising on gains in US technology stocks. Investor sentiment was also reported to have been helped by strong revenue growth reported by AI startup Anthropic.

Buy sidecar triggered

As the rally extended, the Korea Exchange triggered a buy sidecar, a market-curbing mechanism. It was the first since the 21st, four trading days earlier. At the time of the trigger, the KOSPI was up 4.26% from the previous session at 5,701.12.

A sidecar is meant to stop sharp price swings in the futures market from spilling into the cash market. It is triggered when KOSPI 200 futures move 5% or more above or below their reference price and stay there for at least one minute.

The posts available do not give a closing level for the KOSPI or name individual stocks that drove the gain.