KOSPI Surges 18% in Historic Rally Despite 22% Monthly Decline

KOSPI posted a record 18% single-day gain, driven by SK Hynix and Samsung Electronics. The index remains down 22% for the month, marking the second-largest monthly drop in history.

Woofun AI reports that the South Korean KOSPI index closed at 6595.44 points on July 31, rising 1001.88 points or 17.91%. This represents the largest single-day closing gain in the index's history. SK Hynix shares increased by 30% to hit the daily limit, while Samsung Electronics rose nearly 27%, both setting new records for single-day performance.

The index triggered circuit breakers twice earlier in the week amid significant volatility. For the month, the KOSPI has declined 22.4%, which is the second-largest monthly drop after the 27.2% decline recorded in October 1997. The index has retreated 30% from its peak level reached in June.