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FrontRow · Jul 31, 2026

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South Korea's stock market staged its sharpest reversal on record on Friday, capping a month of wild swings that underscored how tightly the country's equity market has become tied to the global artificial intelligence trade. The benchmark Kospi surged 14%, on track for its largest one-day jump, data from LSEG showed. SK Hynix similarly saw a record rebound, while Samsung Electronics soared. "The Korean stock market has been trading as if it has bipolar disorder, swinging from panic to euphoria almost overnight," said Jung In Yun of Fibonacci Asset Management. "Today's move looks like a violent reversal of an extremely crowded selloff." The rebound followed a powerful overnight rally in U.S. technology stocks after upbeat earnings from Microsoft, Amazon and Meta reinforced expectations that spending on artificial intelligence infrastructure remains robust. Additional support also came after SK Group Chairman Chey Tae-won disclosed purchases of SK Hynix shares, bolstering confidence in the world's second-largest memory chipmaker.

South Korea's stock market staged its sharpest reversal on record on Friday, capping a month of wild swings that underscored how tightly the country's equity market has become tied to the global artificial intelligence trade. The benchmark Kospi surged 14%, on track for its largest one-day jump, data from LSEG showed. SK Hynix similarly saw a record rebound, while Samsung Electronics soared. "The Korean stock market has been trading as if it has bipolar disorder, swinging from panic to euphoria almost overnight," said Jung In Yun of Fibonacci Asset Management. "Today's move looks like a violent reversal of an extremely crowded selloff." The rebound followed a powerful overnight rally in U.S. technology stocks after upbeat earnings from Microsoft, Amazon and Meta reinforced expectations that spending on artificial intelligence infrastructure remains robust. Additional support also came after SK Group Chairman Chey Tae-won disclosed purchases of SK Hynix shares, bolstering confidence in the world's second-largest memory chipmaker.

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