Key Takeaways:
- South Korea’s KOSPI surged 4.40% on Thursday, July 23, 2026, to close at 7,096.89, reclaiming the 7,000-point threshold for the first time in five trading sessions.
- Foreign investors poured 2.14 trillion won into Korean equities, driving Samsung Electronics (+3.65%) and SK hynix (+4.86%) higher after Alphabet raised its AI capex guidance.
- KOSDAQ rallied 5.22% to 790.28, triggering a “buy sidecar” in afternoon trading, while Hong Kong’s Hang Seng gained 1.28%.
KOSPI Reclaims 7,000 as Foreigners Inject 2.14 Trillion Won on AI Relief
On Thursday, July 23, 2026, South Korean equities experienced an explosive surge, with the benchmark KOSPI jumping 299.19 points (+4.40%) to close at 7,096.89. This marked the index’s return above the psychologically significant 7,000-point mark for the first time in five sessions. Foreign investors drove the momentum, recording a net purchase of 2.14 trillion won. Catalyst sentiment was anchored by Alphabet’s Q2 earnings report, which detailed robust cloud growth and elevated AI capital expenditure, easing fears of an impending peak-out in semiconductor demand.
Major Asian Indices Summary
| Index | Close | Change (Pts) | Change (%) |
|---|---|---|---|
| KOSPI | 7,096.89 | +299.19 | +4.40% |
| KOSDAQ | 790.28 | +39.19 | +5.22% |
| Nikkei 225 (Japan) | 66,538.00 | +422.40 | +0.64% |
| Shanghai Composite (China) | 3,876.78 | +9.75 | +0.25% |
| Hang Seng (Hong Kong) | 25,210.81 | +318.15 | +1.28% |
Semiconductor Heavyweights and KOSDAQ Lead Broader Regional Rally
Market heavyweights Samsung Electronics (+3.65% to 270,000 KRW) and SK hynix (+4.86% to 1,919,000 KRW) led the domestic board. The secondary KOSDAQ market surged 5.22% to 790.28, activating a “buy sidecar” during afternoon trading as program orders surged.
Across the region, Japan’s Nikkei 225 advanced 0.64% to 66,538.00. Hong Kong’s Hang Seng index rebounded 1.28% to 25,210.81, supported by technology and consumer names, while mainland China’s Shanghai Composite gained 0.25% to end at 3,876.78.
Macro and FX Snapshot
In currency markets, foreign capital inflows into Korean equities boosted the local currency, with the USD/KRW exchange rate strengthening to close at 1,466.80 Won. USD/JPY hovered near 163.08, while USD/CNY traded at 6.7730. Benchmark South Korea 3-year Treasury yields settled near 3.88%. Energy markets remained elevated with WTI crude at $84.34 per barrel and Brent crude at $94.07, while spot Gold held at $4,135.80 per ounce.
Key Upcoming Events for Global Investors
Investors are monitoring upcoming key economic and policy events:
- Thu, Jul 23 (ET): European Central Bank (ECB) Interest Rate Decision and Press Conference.
- Fri, Jul 24: Japan National CPI report and Flash PMIs for the US, Eurozone, and UK.
- Mon, Jul 27 – Wed, Jul 29: Federal Reserve FOMC Rate Decision and Press Conference.
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