The AI Boom is Back, South Korean Stock Market Rebounds Strongly
1 day ago / Read about 0 minute
Author:小编   

On August 13th, the South Korean stock market surged on Thursday, with the KOSPI index entering a technical bull market. The resurgence of the global AI trading boom has become the driving force behind the strong rebound of the South Korean stock market following its historic sell-off last month. During the morning session, the KOSPI index once rose by more than 4%, with a rebound of approximately 23% since its low on July 30th. Among them, the index heavyweights Samsung Electronics and SK Hynix performed impressively, with gains exceeding 4% and 7%, respectively. Fundstrat Global Advisors analysis points out that with the strong return of South Korea's major memory chip manufacturers, the rebound momentum of the South Korean stock market may continue. Mark Newton, the company's Head of Technical Strategy, stated that buoyed by the rise in share prices of Samsung Electronics and SK Hynix, the iShares MSCI South Korea ETF has broken through key technical levels, sending a positive signal for the short-term outlook of the South Korean stock market. It is particularly noteworthy that memory chip stocks, which were severely hit during the recent tech stock sell-off, have now begun to outperform the overall tech sector for the first time since June.

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