South Korea KOSPI gains 15% as SK Hynix, Samsung soar
South Korea's KOSPI index just shot up 15%, a record gain, thanks to a rally led by tech giants SK Hynix and Samsung Electronics, whose shares soared 28% and 26%.
This rebound follows a rough week of losses, mostly driven by worries about tech debt and tough competition from Chinese companies.
Chey Tae-won buys $3.2 million SK Hynix
Fresh optimism came from big predictions for AI growth, strong profit news, and new investments.
A highlight: SK Group Chairman Chey Tae-won personally bought $3.2 million worth of SK Hynix shares for the first time, showing real confidence in the company's future.
The South Korean government also plans to add $13.9 billion to its wealth fund for AI strategies, while major US tech players like Microsoft and Amazon are boosting their own AI spending, giving the market even more momentum.