Kospi surges 18% to a record high, led by chip and AI stocks

Price Action Impact 4
โดย Bloomberg·Read original
Summary · why it matters

South Korea's Kospi index surged to a record high, jumping 18%, led by SK Hynix which closed up 30% and Samsung Electronics soaring 27%, after three prior days of heavy selling had dragged the index down 17%. The rebound was fueled by reports of expanding AI investment abroad, government pledges of regulatory support, and signs that the unwinding of margin loans and leveraged ETF investments, which had previously pressured the market, may have peaked. Buying was driven mainly by foreign investors, with net purchases on the Kospi reaching a record 7.2 trillion won, or 5 billion dollars, while retail investors sold a net 8.3 trillion won, also a record high. Jung In Yun, CEO of Fibonacci Asset Management Global in Singapore, said today's market rebound was due to short covering after the sharp drop, but not just bargain hunting, as improving fundamentals also provided support.

Impact on stocks 2

Semiconductors · 1 stocks
Artificial Intelligence · 1 stocks