KOSPI Surges 17.91% in Its Biggest-Ever Rally, but Has Not Fully Recovered
This article is based on the latest available reports and official data as of 2026-07-31 Korea time.
On 2026-07-31, the KOSPI closed at 6,595.45, gaining 1,001.89 points, or 17.91%. Both the point gain and percentage increase were the largest on record.
However, the rebound recovered only about 86% of the 1,162.19 points lost over the previous three days. It is therefore difficult to conclude that the downward trend has ended based on a single day's sharp rally.
Samsung Electronics and SK Hynix were the main drivers of the rebound.
Samsung Electronics surged 26.81%, while SK Hynix gained 29.95%. Together, the two stocks account for 51.22% of the KOSPI's total market capitalization. Strong earnings from major U.S. technology companies helped ease some concerns about AI investment and semiconductor demand, concentrating buying interest in these stocks.
Investor trading activity was also extreme.
Foreign investors recorded their largest-ever net purchases, totaling 8 trillion KRW 770,900,000,000, including trades on Nextrade, while individual investors recorded net sales of KRW 10,383,400,000,000. Buy-side circuit breakers, known as sidecars, were also triggered on both the KOSPI and KOSDAQ, temporarily suspending program buying amid the sharp market surge.
In other words, it was a session marked by both exceptionally strong gains and extremely high volatility.
On the next trading day, investors should focus on three factors before looking at the index level itself.
Whether U.S. semiconductor stocks continue their upward momentum, whether foreign investors maintain their buying activity, and whether Samsung Electronics and SK Hynix can hold on to their sharp gains.
Rather than chasing the rally based on a single day's record performance, investors should also assess potential losses and market volatility. Do you see this rebound as a trend reversal or a technical bounce following a steep decline?
※ This article is provided for informational purposes to help readers understand market trends and does not constitute investment advice or a recommendation to buy any particular stock or asset. All final investment decisions and responsibilities rest with the individual investor.