Japan, South Korea Stocks Close Higher; Kospi Rises Over 3%, Samsung, SK Hynix Gain Over 5%, Kioxia Up Nearly 3%

TradingKey - On October 21, Japanese and South Korean stock markets rebounded in tandem. Korea's Composite Stock Price Index (KOSPI) closed up 3.29% at 5,735.67 points, while Japan's Nikkei 225 Index closed up 0.85% at 64,621.24 points.

Source: TradingView

Previously, the South Korean stock market suffered a heavy sell-off. On October 20, the KOSPI fell 3.73% to close at 5,552.75 points, hitting its lowest closing level since April 7, after dropping as much as 4.76% intraday and breaking below the 5,500-point mark.

South Korean semiconductor leaders rebounded sharply, with Samsung Electronics surging 5.67% to 223,500 won (about $169) and SK Hynix gaining 5.81% to 1.294 million won. In the Japanese market, Kioxia rose 2.82% to 13,510 yen (about $85), while SoftBank Group advanced 1.49% to 4,622 yen.

Regarding the recent severe volatility in memory chip stocks, Cathie Wood remains optimistic. She believes that the recent pullback in memory chip stocks was partly due to the negative impact of earlier rapid price increases. The sharp surge in chip prices drove up terminal costs for consumer electronics, leading to a noticeable decline in sales for some end products, an effect that has gradually been reflected in stock prices. However, she remains bullish on the semiconductor industry's fundamentals and believes the long-term development prospects for AI infrastructure remain bright.