Japan, South Korea Stocks Rally as KOSPI Posts Record 18% Gain; SK Hynix Hits 30% Limit, Samsung Soars 27%
AI Podcast
On July 31, Japanese and South Korean markets staged a historic rebound. The KOSPI surged a record 17.91% to 6,595.45, while the Nikkei 225 rose 4.03% to 64,362.02. This recovery was led by semiconductor giants, with SK Hynix gaining 29.95% and Samsung Electronics rising 26.81%, offsetting recent sell-offs. Despite this session’s gains, market sentiment remains cautious; the KOSPI recorded its worst monthly performance since 1997, dropping 22.19% in July. The rally reflects a sharp return of capital to battered tech sectors, yet indices remain significantly below June highs, highlighting ongoing volatility.
TradingKey - On July 31, Japanese and South Korean stock markets staged a historic rebound. The South Korea Composite Stock Price Index (KOSPI) surged 17.91% to close at 6,595.45 points, marking its largest single-day gain since the index's inception. Meanwhile, Japan's Nikkei 225 Index closed up 4.03% at 64,362.02 points, recouping some of its losses following recent consecutive corrections.
Source: TradingView
SK Hynix closed up 29.95% at 1,718,000 won (approximately $1,200), briefly hitting its 30% daily limit during intraday trading and setting its largest single-day gain since listing. Samsung Electronics rose 26.81% to close at 262,500 won, with its market capitalization returning to $1.2 trillion.
Source: TradingView
Japanese tech stocks also delivered a strong performance, with Kioxia soaring 17.72% to close at 46,500 yen (approximately $284), while SoftBank Group rose 13.80% to close at 5,260 yen (approximately $32).
The South Korean stock market had previously experienced severe declines for two consecutive days. On July 28 and 29, triggered by concentrated sell-offs in the semiconductor sector, the Korea Exchange activated circuit breakers for two consecutive trading days, dragging market sentiment to freezing point.
The rapid inflow of capital in this round made the hard-hit leading chipmakers the vanguard of the rebound, driving the KOSPI to its largest single-day gain in history.
However, in terms of monthly performance, the South Korean stock market has yet to fully recover its losses. In July, the KOSPI fell 22.19% cumulatively, recording its largest monthly decline since the 1997 Asian financial crisis and second only to the historical record of 27.2% in October 1997, with the index still down nearly 30% from its June high.
Meanwhile, despite the sharp rebound on the 31st, Samsung Electronics still recorded a cumulative decline of 21% in July, while SK Hynix fell 35% for the month.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
Recommended Articles
Comments (0)
Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.