South Korean stocks saw a big turnaround on Tuesday, with the benchmark KOSPI and second-largest KOSDAQ jumping over three and six percent, respectively, just a day after a major plunge on Monday.

The main bourse KOSPI, which had shed over eight percent on Monday, rose 80-point-six points, or three-point-three percent, to close at two-thousand-522-point-15. 

The tech-heavy KOSDAQ, which had lost over eleven percent, climbed 41-point-59 points, or six-point-02 percent, to close at 732-point-87 on Tuesday.

The KOSPI 200 Futures index jumped by over five percent from Monday's closing at around 9:06 a.m. on Tuesday, forcing authorities to activate sidecar curbs for five minutes.

Sidecar curbs on purchases were also activated for the tech-heavy KOSDAQ, after the KOSDAQ 150 futures and the KOSDAQ 150 index surged seven-point-99 and five-point-64 percent, respectively, from the previous day.

This was the first time since June 16, 2020 that sidecar curbs were activated on both the KOSPI and KOSDAQ. Sidecar curbs on sales of shares were activated on both bourses on Monday.