Korean stock rose by 14 per cent, the highest ever

On 31 July, South Korea’s stock market climbed on Friday, rebounding from the collapse of the previous few days, rekindling investors’ optimism about the boom in artificial intelligence trading as a result of the spending plans of large technology companies. The benchmark KOSPI index rose by 14 per cent at a time, to reach the largest single-day increase in history. According to a media analysis, the initial sharp rise of 28 per cent on the SK Hercules stock plate, thanks to the rare direct buy-in of the company ' s shares by the President of the SK Group, as well as a 26 per cent increase in three-star electronics for the memory chip industry. The KOSPI index accumulated a 17 per cent decline in the last three trading days, mainly due to market concerns about the rising debt levels of large global technology companies. This year ' s dramatic increase, driven by artificial intelligence, has become increasingly volatile since the launch of the leverage product in May. “Accelerated sales of AI technology, driven by deleveraging, derisking, siloing and other liquidity factors in the near future, may be stabilizing,” said Shawn Oh, the Korean stock manager for NH investment securities. At the same time, the Japanese stock market was boosted, with a 4 per cent increase at the beginning of the day with the 225 index, exceeding 64,000 points. Kim Xian