South Korea's Kospi jumps as SK Hynix stock surges on blockbuster Nasdaq listing plan
South Korea's Kospi jumps as SK Hynix stock surges on blockbuster Nasdaq listing plan
Huileng TanThu, June 25, 2026 at 1:50 AM UTC
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South Korea's stock market have been volatile this week as investors reassessed AI-related semiconductor shares.Jung Yeon-je/AFP/Getty Images -
Kospi surges over 5% as Samsung and SK Hynix lead another sharp rally in chip stocks.
SK Hynix jumped nearly 10% amid $29.4 billion US listing plans.
The chip selloff was a correction, not the end of the AI rally, an analyst says.
South Korea's benchmark Kospi index surged over 5% in early trading on Thursday, extending a rebound after a tech-driven selloff rattled markets around the world earlier this week.
The rally was led by heavyweight chipmakers Samsung Electronics and SK Hynix, as investors returned to battered semiconductor stocks after two days of volatility.
Samsung Electronics shares gained over 6%, while SK Hynix jumped nearly 10%. The gains came after SK Hynix filed for a blockbuster Nasdaq listing that could raise as much as 45.45 trillion won, or $29.4 billion.
Sentiment was also buoyed after memory-chip maker Micron topped Wall Street's revenue estimates and issued upbeat guidance, reinforcing optimism about AI-related demand.
Thursday's gains in the Kospi followed a 3.3% rebound on Wednesday, after the benchmark recovered from Tuesday's nearly 10% plunge, its steepest one-day decline in months.
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The selloff earlier this week spilled into global markets, dragging down US semiconductor stocks as investors questioned lofty valuations across the AI trade and rotated into more defensive sectors.
South Korea has been one of the world's best-performing stock markets this year, fueled by a surge in semiconductor and AI-related shares. The strong rally has left the market more susceptible to sharp pullbacks.
Despite the violent swings, analysts remain constructive on long-term AI-related chip demand, viewing the recent volatility as a correction after an extraordinary rally rather than the end of the sector's run.
The pullback earlier this week "seems more like a cooldown phase during a bull run than a genuine downturn," according to a Wednesday note from KB Securities analyst Euntaek Lee.
Still, Lee warned that volatility could persist as the market remains vulnerable to further corrections after its extended rally. He said current conditions do not point to a bubble.
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Source: “AOL Money”
