SK Hynix shares surge over 15%, chip stocks rebound after AI sell-off, South Korean stock market jumps 8%

According to data from MSX.COM, SK Hynix shares surged over 15%, with memory chip manufacturers leading a rebound in the South Korean stock market. The KOSPI index jumped as much as 8%, following a 15% decline from its all-time high over three consecutive days of losses. Samsung Electronics rebounded as much as 9.1%, indicating that investors are not yet ready to abandon the AI boom.

The dramatic rally previously driven by artificial intelligence had pushed the KOSPI index's year-to-date gains to over 100%. However, this rally rapidly unraveled on Monday, briefly triggering circuit breakers due to excessive declines and causing a temporary trading halt. Leveraged ETFs amplified the volatility of underlying securities, further exacerbating the downturn. Samsung Securities analyst Lee Jongwook stated that while volatility has become extreme, this is due to structural changes in the market rather than a cyclical directional shift. The analyst advised investors to maintain existing positions or selectively increase holdings after the sell-off.