South Korean stocks surged 7%, triggering circuit breaker, SK Hynix soared 11%
On July 15, the Japanese and Korean stock markets opened higher. As of 8:20 Beijing time, the Nikkei 225 index rose by more than 1%; South Korea's KOSPI index rose by more than 7%, SK Hynix rose by more than 11%, and Samsung Electronics rose by more than 6%. The Korean Exchange initiated a temporary trading suspension mechanism for the KOSPI Index and the Korean Growth Enterprise Market Index (KOSDAQ), and programmed trading was suspended for 5 minutes. According to financial news, Samsung Electronics plans to build a new DRAM factory in South Korea, which can produce about 100,000 wafers per month.
On July 15, the Japanese and Korean stock markets opened higher. As of 8:20 Beijing time, the Nikkei 225 index rose by more than 1%; South Korea's KOSPI index rose by more than 7%, SK Hynix rose by more than 11%, and Samsung Electronics rose by more than 6%. The Korean Exchange initiated a temporary trading suspension mechanism for the KOSPI Index and the Korean Growth Enterprise Market Index (KOSDAQ), and programmed trading was suspended for 5 minutes. According to financial news, Samsung Electronics plans to build a new DRAM factory in South Korea, which can produce about 100,000 wafers per month. Trillions of won are likely to be invested in the plan; construction could begin as early as the third quarter. Overnight, the three major U.S. stock indexes all closed higher, and chip stocks counterattacked. SK Hynix soared 27%, Nvidia rose more than 4%, memory chips performed well, and SanDisk rose more than 5%. According to a report from the Financial Associated Press, data released by the Bank of Korea on Tuesday showed that foreign investors were net sellers of Korean stocks for the fifth consecutive month in June, despite the sharp rise in the Korean stock market driven by technology stocks during this period. The high-level coordination mechanism of the four major economic departments of the South Korean government will hold a meeting on Thursday to study response plans for the impact of single-stock leveraged ETFs on the stock market. This is the first time that this issue has officially entered the mechanism for discussion. Markets are now closely watching the Bank of Korea's meeting later this week. Most analysts expect the Bank of Korea to raise interest rates for the first time in more than three years on Thursday with inflation well above its 2% target. (