KOSPI Soars 17.91%... Samsung Electronics and SK Hynix Hit Daily Limit

The robust earnings of Big Tech firms have alleviated concerns over AI investment. Microsoft's Azure revenue surged 43% year-over-year, Meta's ad revenue grew 27%, and Amazon announced a 37% rise in AWS sales along with an upward revision of its capital expenditure plan to $220 billion for next year.

The rebound in the domestic stock market is a result of a combination of recovered investor sentiment for semiconductor stocks in the overnight U.S. New York market and bargain hunting following the recent crash. Major semiconductor stocks, including Micron, Sandisk, AMD, and Intel, showed double-digit gains, while the Philadelphia Semiconductor Index soared 8.19%.

Experts are positively evaluating the expanded facility investment by Big Tech and the improved earnings visibility of leading stocks. Citing the potential end of semiconductor deleveraging and a demand domino effect, they forecast a bullish phase. Han Ji-young, a researcher at Kiwoom Securities, and Kim Dong-won, head of research at KB Securities, analyzed that current stock prices of Korean memory chip companies are undervalued, suggesting the market has confirmed a bottom.