Overview
- South Korea’s KOSPI opened at 7,093 on Wednesday for its first-ever break above 7,000, then leapt to new intraday highs above 7,300 and later 7,400.
- An AI-fueled surge in chip stocks drove the gains as Samsung jumped nearly 12% to a market value above $1 trillion, with SK Hynix up about 10% after strong U.S. chip guidance.
- The Korea Exchange triggered a buy-side “sidecar” at 9:06 a.m., imposing a five-minute halt on program-driven buy orders in KOSPI futures to cool the spike.
- Risk appetite improved after President Donald Trump said Tuesday he would pause Project Freedom to pursue an Iran agreement, a move that knocked oil prices lower and lifted global tech shares overnight.
- Stability risks grew as short-selling balances hit records and leveraged wagers climbed, including peak contracts for difference, which let traders bet on price moves with borrowed money without owning the shares.