Korean Stocks Jump Record 14% on Renewed AI Trade Optimism

South Korea's Kospi index surged as much as 14% on Friday, its biggest gain on record, rebounding from a 17% three-day slump as renewed AI trade optimism boosted chipmakers. SK Hynix Inc. jumped up to 28% after SK Group Chairman Chey Tae-won made his first direct personal purchase of 3,620 shares worth about 4.8 billion won ($3.2 million), while Samsung Electronics Co. rose 26%. NH Investment & Securities' Shawn Oh said the selloff driven by deleveraging and liquidations may be stabilizing.

Bloomberg -- South Korean stocks climbed Friday, rebounding from steep losses earlier this week, as major technology firms' spending plans refueled optimism on the artificial intelligence trade. Most Read from Bloomberg - Chip Stocks Post Biggest Advance Since April 2025: Markets Wrap https://www.bloomberg.com/news/articles/2026-07-29/stock-market-today-dow-s-p-live-updates?utm campaign=bn&utm medium=distro&utm source=yahooUS - US Strikes Iran Again as Conflict Spreads Across Middle East https://www.bloomberg.com/news/articles/2026-07-30/us-launches-fresh-strikes-against-iran-as-war-escalates-again?utm campaign=bn&utm medium=distro&utm source=yahooUS - Warner Bros. Deal Collapse Would Cost the Ellisons $9.8 Billion https://www.bloomberg.com/news/articles/2026-07-28/warner-bros-deal-collapse-would-cost-the-ellisons-9-8-billion?utm campaign=bn&utm medium=distro&utm source=yahooUS - Microsoft's $450 Billion Jump Is Biggest in Stock Market History https://www.bloomberg.com/news/articles/2026-07-30/microsoft-eyes-history-with-490-billion-pop-in-market-value?utm campaign=bn&utm medium=distro&utm source=yahooUS The benchmark Kospi rose as much as 14%, the most on record. SK Hynix Inc. jumped as much as 28%, helped also by a rare direct share purchase by SK Group Chairman Chey Tae-won, while memory-chipmaker peer Samsung Electronics Co. rose 26%. The benchmark index tumbled 17% over the previous three sessions on concerns over rising debt levels at the world's biggest tech firms and a threat of Chinese competition. This year's big AI-fueled rally had turned increasingly volatile with the launch of leveraged products in May. "The recent accelerated selloff in AI tech driven by deleveraging, degrossing, liquidations and other liquidity factors may be stabilizing," said Shawn Oh, head of Korea cash equities at NH Investment & Securities. Investors drew comfort from Chey's purchase of 3,620 SK Hynix shares in the open market, his first direct personal investment in the chipmaker. The purchase, worth about 4.8 billion won $3.2 million , was widely interpreted as a vote of confidence in the company's long-term prospects after the sharp decline. Most Read from Bloomberg Businessweek - How a Few Hundred Dollars Could Manipulate Election Prediction Markets https://www.bloomberg.com/news/features/2026-07-29/manipulation-threat-taints-kalshi-and-polymarket-claims-as-political-forecasters?utm campaign=bw&utm medium=distro&utm source=yahooUS - The Bitcoin Slump Is Crushing Companies That Stockpiled Tokens https://www.bloomberg.com/news/articles/2026-07-22/bitcoin-s-price-plunge-crushes-companies-that-stockpiled-tokens?utm campaign=bw&utm medium=distro&utm source=yahooUS ©2026 Bloomberg L.P.