Korean chip rally sends Kospi +2.7%; Samsung, SK Hynix and a Nikkei above 70K front-run AI mood 📈

South Korea's Kospi index opened Monday with a 2.7 percent jump, briefly trading above 8,300 points before easing toward 8,150, led by gains in Samsung Electronics and SK Hynix as investors positioned ahead of this week's earnings and the SpaceX Nasdaq 100 inclusion. Samsung climbed as much as 4 percent in early trade, building on last week's rebound in memory stocks, while SK Hynix added up to 1.8 percent. Across the region, Japan's Nikkei 225 broke above 70,000 points, up 0.73 percent, with Kioxia advancing nearly 1 percent on the Tokyo Stock Exchange; SoftBank was the notable decliner, falling more than 2 percent.

The moves extend a volatile stretch for Korean chip equities. Samsung Electronics and SK Hynix have swung sharply this year on memory pricing disputes and trillion-dollar investment commitments, while the Kospi itself has triggered repeated trading halts in 2026 amid AI-driven volatility. Other index components posted smaller moves: Hyundai Motor and Hanwha Aerospace notched modest gains, and LG Energy Solution slipped. The Korean won weakened to 1,533.90 against the U.S. dollar, down 8.3 won from Friday's close.

Traders cited positioning ahead of SpaceX's Nasdaq 100 inclusion on Tuesday, with participants betting the listing could lift sentiment across AI-linked tech names in Asia. Samsung's preliminary second-quarter results are due Tuesday and are expected to determine whether Monday's gains hold, as investors weigh whether AI infrastructure spending is translating into earnings. The rally follows recent sessions in which the Kospi flashed warning signs over stretched AI chip valuations.