KOSPI Rebounds as Samsung and SK Hynix Recover From Tech-Led Selloff

South Korean stocks rebounded in early trading Wednesday as major semiconductor companies recovered from the previous session’s technology-led rout, even as concerns about global artificial intelligence spending continued to weigh on investor sentiment.

The benchmark Korea Composite Stock Price Index rose 110.66 points, or 1.83 percent, to 6,146.01 as of 9:15 a.m. After beginning the session 0.44 percent higher, the index extended its gains as investors returned to some of the market’s largest technology shares.

The advance followed a sharp 5.46 percent decline Tuesday, when renewed doubts about the scale and sustainability of capital spending by large AI companies drove heavy losses across the Korean market. That selloff pushed the index down to 6,035.35 and prompted the Korea Exchange to activate a sell-side sidecar during trading.

Samsung Electronics, the country’s largest listed company, gained 3.02 percent in early trade. SK Hynix, another major semiconductor producer with substantial exposure to demand for AI memory chips, rose 2.36 percent. Their gains helped lift the broader index because of the companies’ large market weight.

Other major stocks also advanced. Internet platform operator Naver gained 1.18 percent, while SK Telecom climbed 4.5 percent. Automaker Kia rose 1.39 percent, and auto-parts supplier Hyundai Mobis added 2.87 percent.

The recovery came despite a weaker overnight performance on Wall Street. The Dow Jones Industrial Average declined 0.35 percent and the Nasdaq Composite fell 0.15 percent. The Philadelphia Semiconductor Index lost 0.23 percent, extending its decline to a fifth consecutive session. Broadcom chief executive Hock Tan’s comparison of current AI investment flows to casino gambling added to debate over whether spending has moved ahead of near-term returns.

Currency trading also reflected improved conditions for Korean assets. The won traded at 1,338.50 against the U.S. dollar, 3.2 won stronger than the previous stock-market session’s close.

The early rebound offered some relief after Tuesday’s unusually steep fall, but the contrasting moves in Seoul and New York underscored persistent uncertainty around technology valuations. Investors will be watching whether gains in Korea’s heavyweight chipmakers hold through the session and whether foreign selling pressure eases after the previous day’s retreat.