KOSPI Surges 5.5% in a Single Day, Samsung and SK Hynix Both Jump Over 9%
Taylor Wilson
KOSPI rallied as much as 5.5% intraday on July 3, with Samsung Electronics and SK Hynix both up over 9%, triggered by a Bloomberg report that Anthropic is in talks with Samsung to co-develop custom AI chips — yet foreign investors remained net sellers, leaving local funds as the main buyers.
What actually bounced — and by how much?
KOSPI climbed as much as 5.5% intraday, partially offsetting a nearly 10% cumulative drop over the prior two sessions.
Samsung Electronics and SK Hynix both rose over 9%; the Korea Exchange briefly halted program buying after KOSPI futures spiked.
This means → the rally was sharp but still a partial recovery — the index remains well below its recent peak.
What triggered the rebound?
The direct catalyst was a Bloomberg report: Anthropic is in talks with Samsung to co-develop custom AI chips.
Fibonacci Asset Management global CEO Jung In Yun said the partnership "is still in its early stages with limited near-term earnings impact, but strategically positive."
In plain terms = no actual orders yet — the market is pricing in the signal that Samsung still has a seat at the AI-chip table.
Who was buying and who was selling?
Foreign investors and retail traders were both net sellers; local institutional funds stepped in to buy the dip.
This means → the bounce was driven by domestic institutions picking up cheap shares, not by returning foreign capital.
This reflects continued short-term caution among foreign investors toward Korean AI names — raising questions about how durable the rally is.
Why has Korea's market been on a roller coaster this week?
Samsung and SK Hynix had both more than tripled from their January lows at peak, stretching valuations and making the market hypersensitive to any negative headline.
On Thursday, SK Hynix posted its worst single-day drop since 2008, triggered by fears of industry overcapacity.
Leveraged ETFs — funds that use borrowed money to amplify daily gains and losses — played a significant role in magnifying swings in both directions.
What comes next?
Korea has been one of the world's best-performing equity markets this year, but its heavy concentration in just two chip giants creates a structural vulnerability whenever AI sentiment shifts.
Samsung's preliminary quarterly results on Tuesday will be the key test of whether this rally can hold.
In plain terms = if Samsung's numbers are strong, the rebound has a foundation; if they disappoint, another leg down is very much on the table.
Content is for reference only, not financial advice.