Odaily Planet Daily report: Early Friday trading saw South Korea’s KOSPI index surge as much as 17%, primarily driven by a renewed wave of investment in global semiconductor stocks. The Korean market has been experiencing intense volatility due to repeated fluctuations in leveraged trading. The KOSPI index rose as high as 6,545.15, up 17% from its previous three-day decline to the lowest level since April 7. Samsung Electronics shares jumped over 26%, while SK Hynix rose more than 29%, both recording their single-day highest gains on record. Together, these two chipmakers account for more than half of the KOSPI index by market capitalization. On Thursday, the U.S. Philadelphia Semiconductor Index climbed 8%, Micron Technology surged 18%, and Microsoft posted strong earnings, sending its stock up 15%—its largest single-day gain in 18 years—sparking the remarkable rebound in semiconductor stocks. Across broader Asian markets, other technology-heavy indices also rose sharply: the Nikkei 225 gained over 5%, and the Taiwan Weighted Index rose 7%. (Jinshi)
KOSPI Index Rises 17% as Samsung and SK Hynix Achieve Record Daily Gains
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Summary
The KOSPI index surged 17% to 6,545.15 points on Friday morning, with the Fear & Greed Index indicating strong bullish momentum. Samsung Electronics and SK Hynix rose over 26% and 29%, respectively, setting new daily highs. Together, the two companies account for more than half of the KOSPI’s total market capitalization. The rally followed a 15% increase in Microsoft’s stock and an 8% gain in the U.S. Philadelphia Semiconductor Index. The daily market report highlights renewed global demand for semiconductors.
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