Key facts
- South Korea's KOSPI index entered a technical bull market on Thursday.
- The KOSPI index closed up 4% on Thursday.
- The index has gained 22% from its July 30 low.
- The KOSPI experienced a 40% plunge from its June peak.
- The rally is driven by chipmakers like Samsung Electronics and SK Hynix.
- The performance mirrors gains in U.S. technology stocks.
- The gains are particularly linked to artificial intelligence-related stocks.
South Korea's benchmark KOSPI index has officially entered a technical bull market, marking a significant rebound after a substantial decline. On Thursday, the index closed up 4%, extending its gains for a fourth consecutive session. This latest surge brings the KOSPI's total gain to 22% from its low point on July 30. This recovery follows a steep 40% plunge the index experienced from its peak in June.