South Korea’s Kospi enters bull market as AI chip rally returns
What's new: The index has rebounded about 22%-23% from its July 30 low, led by Samsung Electronics and SK Hynix.
South Korean stocks surged Thursday, pushing the Kospi into a technical bull market as investors piled back into chip shares tied to artificial-intelligence spending. The benchmark rose as much as 4.8%, leaving it roughly 22% to 23% above its July 30 low after a violent sell-off last month. Samsung Electronics climbed more than 4% to 5%, while SK Hynix jumped more than 5% to 7%, leading the rebound. The move followed strong results from AI-linked US companies and a softer US inflation reading that eased pressure from Federal Reserve rate-hike fears. The rally also comes after July’s 22% slump, when unwinding leveraged bets in chipmakers triggered trading halts and wiped out retail wealth.