[News Today] S.KOREAN STOCKS REBOUND

[LEAD]
The KOSPI rebounded over 3% yesterday, bouncing back from its biggest-ever drop amid fears of a U.S.-driven recession. Major Asian markets, including Japan's Nikkei with a record surge, also saw significant gains.

[REPORT]
The fear-stricken stock markets were transformed overnight.

The markets started off strong.

The KOSPI rebounded 3.3% to about 2,520 points while the KOSDAQ closed at 730 points, more than 6% up from the previous day.

Over 86 trillion won, roughly 64.2 billion U.S. dollars, was recovered out of 235 trillion won, or about 170.6 billion dollars, lost in just one day.

After Monday's crash triggered a circuit breaker, the opposite happened on Tuesday when a buy-side "sidecar" was activated as investors rushed to buy stocks.

Hwang Sei-woon/ Korea Capital Market Institute
Even when we take into account concerns over economic slump and settlement
of yen carry trade, it was a technical rebound driven by an excessive loss.

Most major exchanges in Asia that had plunged made up for their losses.

In particular, Japan's Nikkei jumped more than 10% to set a record increase.

Major Asian markets seemed to have recovered from the fear of possible U.S. recession, but concerns are not completely dispelled.

Lee Jae-man/ Hana Securities
It must be demonstrated that U.S. economic indices and unemployment figures to
be announced early next month wouldn't get worse.

Volatile situations in the Middle East and a money shift driven by Japan's interest rate hike are among the factors causing financial market uncertainties.

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