Early Friday trade South Korea's KOSPI surged as much as 17% to 6,545.15,
reversing a three-day slide that had taken the index to its lowest level since
April 7. Samsung Electronics rose over 26% and SK Hynix gained more than 29%,
each posting record single-day gains; together they account for more than half
of KOSPI market capitalization. The move was driven by a fresh global
semiconductor rally and amplified by volatile leveraged trading. On Thursday the
Philadelphia Semiconductor Index (SOX) climbed about 8%; Micron jumped roughly
18% and Microsoft, after stronger-than-expected results, surged about 15% — its
largest daily gain in 18 years. Other Asian tech-heavy markets also rallied:
Japan's NIKKEI rose over 5% and Taiwan's Weighted Index gained about 7%.
