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KOSPI Snaps Back 15% as Asia’s AI Chip Rally Returns

KOSPI Snaps Back 15% as Asia’s AI Chip Rally Returns

South Korea’s KOSPI index surged by double digits on Friday morning. The rebound follows back-to-back circuit breakers on Tuesday and Wednesday, as well as sharp monthly losses.

Stronger-than-expected cloud results from Microsoft and Amazon revived confidence in AI spending, sparking a chip rally across Seoul and Tokyo. KOSPI Rebound Triggers Buy-Side Sidecar in Seoul According to Google Finance, KOSPI stood at 6,440.14, up 15.13% at press time.

The index gained 846.58 points from Thursday’s close of 5,593.56 by 10:30 a.m. local time. Follow us on X to get the latest news as it happens KOSPI Index Performance.

Source: Google Finance A buy-side sidecar was triggered at 9:06 a.m., suspending program trading for five minutes. The KOSDAQ saw a similar curb after touching an intraday high of 693.81. At press time, it was up by 8.91%. The rally was carried by index heavyweights.

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