South Korea’s KOSPI surged 7% on Thursday, snapping a multi-day losing streak as Asia-Pacific markets tracked Wall Street’s gains.
The benchmark had fallen 9.35% after hitting an all-time high above 8,000 last Friday.
KOSPI Jumps 7% as Iran Thaw and Samsung Truce Spark Rebound
Earlier-week declines came as President Donald Trump signaled possible US strikes on Iran, rattling investors. Sentiment has since reversed, with Trump saying Washington is now in the “final stages” of negotiations with Tehran.
In addition, Samsung Electronics and its worker union reached a last-minute wage agreement late Wednesday. The deal suspended an 18-day strike scheduled to begin Thursday.
Samsung shares climbed more than 6%, while memory rival SK Hynix jumped 11%. Semiconductor names also lifted after Nvidia’s latest earnings showed revenue climbing 85% year-on-year to $81.62 billion.
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Rally Now One of Asia’s Steepest
The KOSPI has tripled in less than 18 months. According to the Financial Times, the pace beats the Nasdaq Composite’s dotcom-era climb by roughly six months.
The rally is fueled largely by the country’s two heaviest-weighted listed companies, Samsung Electronics and SK Hynix. The pair now make up a record 42% of the benchmark, with Samsung up roughly 130% this year and SK Hynix climbing nearly 170%.
Surging memory-chip demand from AI hyperscalers has anchored the run. Notably, Goldman Sachs, Citigroup, and JPMorgan have raised their year-end KOSPI targets in recent weeks.
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