Korean Stocks Rebound as Retail Traders Counter Foreign Selling

South Korean stocks rapidly erased losses Wednesday as local retail investors bought into a wave of selling by foreign funds.

The Kospi rose 0.3%, reversing an early decline of as much as 3.2%. Samsung Electronics Co. pared most of its drop, after briefly plunging as much as 6.1% on its failure to reach a wage agreement with its biggest labor union.