Huo Xing Finance reports that on July 31, according to market data, South Korea’s KOSPI index surged as much as 17% in early Friday trading, primarily driven by a new wave of investment in global semiconductor stocks, following three consecutive days of declines that brought the index to its lowest level since April 7. Samsung Electronics rose over 26%, and SK Hynix climbed more than 29%, both recording their highest single-day 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 rose 8%, Micron Technology jumped 18%, and Microsoft posted strong earnings, with its stock climbing 15%—its largest single-day gain in 18 years.
Samsung Electronics and SK Hynix Achieve Record Daily Gains Amid Semiconductor Rally
MarsBitShare
Summary
A market rally pushed semiconductor stocks higher on July 31, with the KOSPI index surging 17% in early trading. Samsung Electronics and SK Hynix rose 26% and 29%, respectively, setting new daily record highs. Together, the two companies account for more than half of the KOSPI. The Philadelphia Semiconductor Index climbed 8%, with Micron Technology up 18%. Microsoft gained 15% following a strong earnings report—its largest single-day increase in 18 years.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.