South Korea's KOSPI jumps more than 5% early, triggering a buy sidecar as Samsung and SK hynix rebound
The index opened 4.55% higher and programme buy orders were briefly suspended for the first time in nine trading days; at 11:20 a.m. in Seoul, Samsung Electronics was up 5.11% and SK hynix 6.78%.
Why it matters
Samsung Electronics and SK hynix supply much of the memory used in AI servers, so Seoul's market has become one of the most direct gauges of investor mood about AI spending. Tuesday's rebound followed gains on Wall Street, where hopes for an end to the U.S.-Iran war pulled oil prices down and eased inflation fears, Yonhap reported. The buy sidecar, a temporary suspension of programme buy orders, was the first in nine trading days, after a stretch in which the index had been threatening the 5,000 level. Watch whether the gains hold and how chip stocks respond to U.S. consumer price data due on Tuesday.
Key facts
- KOSPI opened 4.55% higher
- Buy sidecar triggered, the first in nine trading days
- KOSPI at 5,245.72 (+4.52%) at 11:20 a.m.
- Samsung Electronics +5.11%, SK hynix +6.78% at 11:20 a.m.
- Hanmi Semiconductor +7.16%
- Won at 1,345.75 per dollar