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Memory chip firms drive Korean market recovery
The KOSPI index on South Korea's stock exchange jumped by 8.2% after its previous decline, driven by a rise in the shares of memory chip manufacturers like Samsung and SK Hynix, which saw gains of 9% and 16% respectively. This market rebound followed three days of losses due to concerns over interest rate hikes and market volatility, which led to the activation of trading halt mechanisms and forced liquidations of stocks purchased with short-term loans. Analysts expect the index to continue rising by approximately 92% by 2026, with local institutions offsetting the net sales by foreigners and individual investors.
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