Shares of South Korea’s SK Hynix rose more than 25 percent in Seoul on Friday. Samsung Electronics shares increased by over 20 percent during the same session.
The KOSPI index surged over 16 percent on Friday. LG Innotek shares advanced 11.2 percent, while Seoul Semiconductor shares rose 7.8 percent.
Gains in Japan and the United States
In Japan, Advantest shares climbed nearly 18 percent. Disco shares rose over 13 percent, and Lasertec shares advanced more than 12 percent. Renesas Electronics shares added over 10 percent, Tokyo Electron shares gained almost 9 percent, and SoftBank Group shares jumped more than 9 percent.
In the United States, the iShares Semiconductor ETF (SOXX) surged more than 8 percent overnight. Amazon shares jumped more than 9 percent in extended trading after reporting second-quarter revenue that beat analysts' expectations. Microsoft shares rallied 16 percent during Thursday's regular session after reporting faster-than-expected Azure cloud growth.
Andrew Jackson, head of equity strategy at Ortus Advisors, said Microsoft's stronger-than-expected quarterly results sparked a huge rebound for risk-on and AI. He noted that Azure cloud revenue beat expectations and management kept capital spending in check.
Updates
The KOSPI index surged 16.43% to reach 6,512.63 by 1.15am GMT on Friday, driven by SK Hynix and Samsung Electronics shares climbing up to 29.7% and 26.3% respectively. While the market rallied due to eased AI overspending concerns, it remains on track for a 25% monthly decline—the largest since 1997—and sits over 30% below its June peak. Additionally, foreign investors net bought 5.8 trillion won in South Korean shares on Friday as the index recovered from a three-session losing streak.
The KOSPI index surged 16.43% to 6,512.63 by Friday morning, driven by a 29.7% rise in SK Hynix shares and a 26.3% jump in Samsung Electronics. While the market rallied as concerns over artificial intelligence spending eased, it remains on track for a 25% monthly decline, the largest since 1997, and sits 30% below its late June peak. Additionally, foreign investors were net buyers of 5.8 trillion won in South Korean shares on Friday, amid analyst warnings regarding investor reliance on leveraged bets to recover recent losses.
The KOSPI index reached 6,512.63 by Friday morning, marking a 16.43% surge, as SK Hynix and Samsung Electronics shares climbed as much as 29.7% and 26.3% respectively. Despite this rebound, the index remains on track for a monthly decline of nearly 25%, the largest since the 1997 Asian financial crisis, and stands over 30% below its June peak. Furthermore, foreign investors purchased 5.8 trillion won in South Korean stocks on Friday, following government measures introduced earlier in the week to restrict leveraged products.
