Kospi Surges 4%, SoftBank Soars 14%, Kioxia Jumps 9%, SK Hynix Gains 7%

TradingKey - KOSPI Triggers Sidecar in 4.39% Surge, Nikkei Reclaims 60,000 Mark, SoftBank Soars Nearly 14%.

During the Asian trading session on November 10, Japanese and South Korean stock markets staged an intense short squeeze and a fierce revenge rally into the close. In morning trade, the KOSPI Index activated a buy-side sidecar curb amid an overwhelming influx of program buying, ultimately closing up 4.39% at 5,239.13 points; Samsung Electronics rose 4.53% to end at 198,500 won, while SK Hynix surged 7.22% to 1,218,000 won.

KOSPI index chart, Source: TradingView

The Nikkei 225 Index opened higher and pushed upward before fluctuating at elevated levels, finishing the day up 2.87% to reclaim the 60,000 threshold and close at 60,459.53 points; Kioxia surged 9.23% to climb back above the 9,000 mark, closing at 9,068 yen; and SoftBank leaped 13.88% to 3,872 yen.

In U.S. markets, the Nasdaq and the Philadelphia Semiconductor Index surged more than 2% in a single day, posting their best single-day performance in 7 months. The previously oversold Asian chip supply chain triggered an intense chain reaction of forced short liquidations, driving massive capital back into heavyweight tech stocks.

In addition, reports of substantive progress in U.S.-Iran negotiations triggered an immediate retreat in Middle East geopolitical risk premiums, with Brent crude (UKOIL) tumbling 2% in a single day to fall below $90 per barrel. The sharp drop in oil prices effectively eased market concerns over sticky secondary global inflation, significantly improving cross-asset risk appetite.