The Korean Kosdaq market posted a sharp rebound on Tuesday in a technical rebound, following the previous day’s "Black Monday" when the tech-heavy market suffered a near 10% fall. On Monday, the Kosdaq market suspended trading for 20 minutes to contain further falls from panic-driven sell-offs. The Kosdaq index closed down 9.6% to 601.33, the biggest daily loss in four years and four months. But it rebounded 2.6% on Tuesday, on bargain-hunting.
The Korea Exchange said in December that both the main Korea Stock Exchange and the Kosdaq market outperformed its peers in other countries in 2005. The Kosdaq index advanced 82.5% last year, the second best global performance following the Russian exchange with an 83.7% gain. The benchmark KOSPI climbed 50.8 percent. The combined market capitalization of Korea’s two stock markets rose 52.4% to $653 billion as of the end of November from $429 billion in December 2004.