Kospi surges 17% as SK Hynix, Samsung rebound after chip rout

South Korea’s benchmark Kospi index surged nearly 17% on July 31, 2026, partially reversing a three-day rout that erased hundreds of billions of dollars from the country’s stock market.

Chip makers SK Hynix and Samsung Electronics fueled the rally. SK Hynix, a major Nvidia supplier, soared more than 17%, while Samsung jumped 23%.

The upswing followed strong earnings from U.S. technology bellwethers. After the close on July 30, Amazon shares rose more than 9% in after-hours trading and Microsoft gained over 15%, rekindling investor enthusiasm for massive artificial-intelligence spending.

Regulators in Seoul also unveiled measures to contain the sell-off that had gripped markets earlier in the week. The Kospi has been halted multiple times this year under circuit breaker rules triggered by panic selling.

Despite the sharp declines since its mid-June record, the index remains 50% above its level at the end of 2025. Surging semiconductor stocks lifted markets in Japan and Taiwan as well.