South Korea's KOSPI rebounds 6.3% as chip stocks trigger curbs
Business
South Korea's KOSPI index made a strong comeback on Thursday, jumping 6.3% after a rough drop the day before.
The big boost came from chip stocks making waves, which were so intense that trading curbs had to kick in to keep things steady.
SK Hynix plans 40T won buyback
SK Hynix stole the spotlight with a 12.93% rise after announcing plans to buy back and cancel 40 trillion won ($28.69 billion) worth of treasury shares and allocate more than half of its free cash flow generated between 2025 and 2027 toward shareholder returns.
Samsung Electronics also saw its shares pop almost 10%.
Other big names like LG Energy Solution and Hyundai Motor joined the upswing, while foreign investors poured in 524.5 billion won, making it a pretty upbeat day for South Korea's stock market.