31.07.202601:32:50UTC+00South Korean Shares Rally on Tech Rebound

The benchmark KOSPI surged more than 15% to around 6,450 on Friday, staging a sharp rebound from the previous session as a global tech rally drove strong gains in semiconductor stocks. Risk appetite improved after Microsoft reported stronger-than-expected earnings and robust Azure growth, easing concerns over a slowdown in AI-related spending. That boosted US chipmakers overnight and, in turn, propelled Korea’s blue-chip names. Samsung Electronics and SK hynix each jumped more than 25%, while SK Square climbed 29.9%. Automakers and heavy industry also advanced, with Hyundai Motor up 9.4%, Kia Corporation gaining 8.6%, and HD Hyundai Heavy Industries rising 5.0%.

Policy support added further momentum after the government unveiled plans to create a 20 trillion won sovereign wealth fund to invest in strategic sectors such as AI, semiconductors, data centers, and infrastructure. Domestic sentiment was also underpinned by stronger macro data: June industrial production grew 2.3%, the fastest monthly increase in six years, driven by robust output in automobiles and semiconductors.