{"slug": "seoul-shares-surge-record-18-to-reclaim-6500-point-level-on-chip-rally", "title": "Seoul shares surge record 18% to reclaim 6,500-point level on chip rally", "summary": "South Korean stocks surged a record 17.91 percent on Friday, with the KOSPI closing at 6,595.45, as better-than-expected Microsoft earnings eased concerns over AI spending and drove a chip rally. Samsung Electronics jumped 26.81 percent and SK hynix rose 29.95 percent, while foreigners and institutions bought a net 7.22 trillion won and 1.15 trillion won respectively. The surge marked the largest single-day gain in the index's history, surpassing the previous record of 11.95 percent set on Oct. 30, 2008.", "body_md": "South Korean stocks skyrocketed by a record 18 percent to reclaim the 6,500-point level Friday, driven by robust semiconductor gains as better-than-expected Microsoft earnings eased concerns over artificial intelligence spending. The local currency rose sharply against the US dollar.\n\nThe benchmark Korea Composite Stock Price Index added 1,001.89 points, or 17.91 percent to close at 6,595.45, sharply rebounding from a three-session deep rout caused by a drop in chipmakers and other AI-related stocks.\n\nIt marked the largest single-day gain in the index's history, surpassing the previous record increase of 11.95 percent set on Oct. 30, 2008.\n\nThe KOSPI had shed more than 17 percent over the previous three sessions, largely due to anxiety over heavy spending on AI infrastructure.\n\nInvestor sentiment, however, improved after Microsoft reported better-than-expected second-quarter earnings overnight, beating forecasts for sales and cloud-computing growth.\n\nTrade volume was heavy at 430.2 million shares worth 48.9 trillion won ($34.2 billion), with gainers outnumbering decliners 772 to 127.\n\nForeigners and institutions led the upbeat market, purchasing a net 7.22 trillion won and a net 1.15 trillion won, respectively, while individuals dumped a net 8.26 trillion won.\n\n\"Semiconductor shares were the main driver of the KOSPI's surge,\" Kim Seok-hwan, an analyst from Mirae Asset Securities, said. \"Earnings of large data center operators, such as Microsoft and Amazon, eased concerns over AI investment and pushed up stocks here.\"\n\nAs part of the government's measures to curb market volatility, meanwhile, the minimum cash deposit required to invest in single-stock leveraged exchange-traded funds increased to 30 million won from the previous 10 million, starting Friday.\n\nMarket bellwether Samsung Electronics shot up 26.81 percent to 262,500 won, and SK hynix surged by a daily limit of 29.95 percent to 1.72 million won.\n\nHanmi Semiconductor, a leading chip equipment manufacturer, soared 27.98 percent to 214,500 won, and SK Square, the parent of SK hynix, escalated by a daily limit of 29.91 percent to 1.04 million won.\n\nCarmakers and shipbuilders were strong as Hyundai Motor jumped 10.54 percent to 388,000 won, and HD Hyundai Heavy Industries mounted 7.37 percent to 481,000 won.\n\nDefense stocks were also in positive territory on renewed military tensions and strong earnings, with industry leader Hanwha Aerospace rising 6.01 percent to 917,000 won and LIG D&A vaulting 9.05 percent to 699,000 won.\n\nThe Korean won was quoted at 1,424 won against the US dollar as of 3:30 p.m., up 13.4 won from the close of stock trading the day before. (Yonhap)", "url": "https://wpnews.pro/news/seoul-shares-surge-record-18-to-reclaim-6500-point-level-on-chip-rally", "canonical_source": "https://www.koreaherald.com/article/10827325", "published_at": "2026-07-31 07:13:47+00:00", "updated_at": "2026-07-31 07:25:35.040025+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure", "ai-chips"], "entities": ["Korea Composite Stock Price Index", "Microsoft", "Samsung Electronics", "SK hynix", "Mirae Asset Securities", "Kim Seok-hwan", "Hanmi Semiconductor", "SK Square"], "alternates": {"html": "https://wpnews.pro/news/seoul-shares-surge-record-18-to-reclaim-6500-point-level-on-chip-rally", "markdown": "https://wpnews.pro/news/seoul-shares-surge-record-18-to-reclaim-6500-point-level-on-chip-rally.md", "text": "https://wpnews.pro/news/seoul-shares-surge-record-18-to-reclaim-6500-point-level-on-chip-rally.txt", "jsonld": "https://wpnews.pro/news/seoul-shares-surge-record-18-to-reclaim-6500-point-level-on-chip-rally.jsonld"}}