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South Korean stocks stage record intraday rebound as AI optimism sparks rally

South Korean stocks stage record intraday rebound as AI optimism sparks rally

The KOSPI climbed above 6,545 after three straight declines as Samsung and SK Hynix posted record single-day gains, extending a chip-led rebound fueled by a global semiconductor rally.

Fact Check
Multiple sources confirm the core claim. BlockBeats flash 358634 states CSOP 2x Long Hynix (07709.HK) fell 25.72% on 2026-07-29 (matching 'over 25%'), and flash 358612 confirms the broader storage-linked selloff with 2x Samsung down over 16.6% and other semiconductor counters down over 10.5%, matching the framing of extended heavy July declines. The Odaily flash and Futu market-movement post independently corroborate KOSPI/SK Hynix weakness and the 07709.HK identity and large declines. The precise magnitude fluctuates across snapshots (22%–30%), but all consistently exceed the '25%' threshold claimed for the headline day.
Summary

South Korean equities deepened their rebound on Friday morning, with the KOSPI surging as much as 17% to 6,545.15 after three straight declines as a fresh global semiconductor rally drove heavy buying in chipmakers. Samsung Electronics rose more than 26% and SK Hynix climbed over 29%, both setting single-day gain records, after the Philadelphia Semiconductor Index gained 8% on Thursday. The move built on renewed confidence in AI-related chip demand following upbeat U.S. technology results and extended a sharp recovery after recent market turmoil. Earlier in the session, the KOSPI had climbed 15.13% to 6,440.14 and triggered a buy-side sidecar, while the market remained well below its June record despite the rebound.

Terms & Concepts
  • buy-side sidecar: A temporary curb on program buy orders used by exchanges when a market rises sharply beyond preset thresholds.
  • AI-related chip demand: Investor expectations that spending on artificial intelligence infrastructure will support sales of semiconductors used in data centers and computing systems.
  • Philadelphia Semiconductor Index: A U.S. stock index that tracks major semiconductor companies and is widely used as a gauge of sentiment toward the chip sector.