South Korea’s KOSPI Jumps as Much as 4.87% in Early Trading

South Korea’s benchmark KOSPI surged in early trading Tuesday, rising as much as 4.87% from Monday’s close after technology shares rallied and oil prices fell. The sharp move triggered a five-minute pause in program buying, while chipmakers led gains across the market.

The index reached 5,263.13 by 9:43 a.m. Seoul time, according to Korea Exchange data. At 11:20 a.m., it stood at 5,245.72, up 4.52%, or 226.87 points, from Monday’s close. These were intraday readings, not a closing level. Samsung Electronics was up 5.11% and SK hynix rose 6.78% at the later snapshot.

The Korea Exchange’s buying curb, known as a buy-side sidecar, paused program buying for five minutes after the initial jump. A similar curb was triggered on the KOSDAQ about four minutes later. The measures are temporary trading pauses and do not halt all market activity.

The rally followed gains in U.S. technology shares and a decline in oil prices. Reports linked the lower oil prices to reduced expectations of renewed U.S. strikes on Iran. South Korean airline shares also advanced during the morning session, with Korean Air up 11.34% and Asiana Airlines up 12.07% at 11:20 a.m.

Tuesday’s rise came after a volatile...