Korean Stocks Rise 22% in 10 Days as Chip Rally Regains Steam

Price Action
โดย Bloomberg·KR·Read original
Summary · why it matters

South Korean stocks climbed, putting the benchmark index on track to enter a technical bull market, as a global rebound in the AI trade fueled a rapid reversal from last month's historic rout. The benchmark Kospi gained as much as 4.8% on Thursday, extending its gain from a July 30 low to around 22%, with heavyweight memory chipmakers Samsung Electronics Co. and SK Hynix Inc. each jumping more than 5%. Enthusiasm for tech hardware stocks is returning on evidence of continued massive AI spending by global Big Tech firms in the latest results, and recent government curbs on single-stock leveraged ETFs and signs of investors reducing margin debt have helped stabilize the market. A subdued US inflation report on Wednesday provided a fresh tailwind, as eased concerns about imminent interest-rate hikes by the Federal Reserve supported US-listed chip peers, while expectations that Samsung and SK Hynix will soon announce shareholder return plans have also lifted sentiment. The Kospi is up more than 60% so far this year on a largely retail-driven rally, yet remains about 24% down from its late June peak after tumbling 22% in July in its worst month since the global financial crisis.

Impact on stocks 2

Semiconductors▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
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