South Korean Stocks Surge Over 13% on Global Tech Rally; SK Hynix Jumps 27%

South Korea's stock market experienced a dramatic surge on July 31, 2026, with the KOSPI index leaping more than 13% shortly after trading began. This sharp increase prompted the activation of "buy-side cars" on both the KOSPI and KOSDAQ markets, a measure designed to temporarily halt program buy orders amid extreme price volatility.

At approximately 9:14 AM, the KOSPI index stood at 6324.27, marking a substantial gain of 730.71 points, or 13.06%, from the previous trading day. This rapid ascent allowed the index to recover the 6000-point level, following a significant downturn that saw it fall to the 5500-point range, marked by unprecedented two consecutive days of circuit breakers on July 29 and 30. The KOSDAQ index also saw gains, trading up 34.17 points, or 5.3%, to 678.95.

Semiconductor stocks were the primary drivers of the market's upward momentum. Samsung Electronics saw its stock price rise by 20.77% to 250,000 won, while SK Hynix surged by 22.47% to 1,619,000 won, even reaching a high of 27% during intraday trading. Samsung Electro-Mechanics also posted strong gains, trading up 29.81%.

The rally in the Korean market is directly linked to positive performance in the U.S. stock market, particularly among major technology and semiconductor companies. Strong earnings reports, including Microsoft's Azure cloud service revenue growth of 43%, fueled a broader buying spree. This optimism extended to semiconductor ETFs and individual stocks like Micron and AMD, with the Philadelphia Semiconductor Index (SOX) recording its largest single-day gain in over a year.