Kospi

Yesterday's global tech sell-off, which started in US sessions on 23 June, carried through Asian markets overnight with particular pressure on semiconductor and enterprise software names. The Oracle redundancy figure arriving alongside a risk-off session is a bad combination: it reinforces the narrative that AI investment creates concentrated winners and broad-based headcount cuts rather than the productivity-for-all story that justified elevated valuations. For UK investors with Asia-Pacific tech exposure, the relevant question is whether this is a rotation out of growth into defensives, or the beginning of a genuine earnings-expectations reset. One session does not answer that. But the Oracle data point makes it harder to dismiss.

South Korea's "ants" are winning the tug of war with foreign money. Retail investors have net purchased over 25 trillion won in 16 sessions, overwhelming more than 20 trillion won in foreign selling. The KOSPI doubled in six months before Middle East tensions triggered the largest single-day drop on record, yet retail traders responded with a record 7 trillion won buying spree in a single session. Their logic is stark: AI advancements threaten jobs, making stocks a hedge for financial independence. Foreign investors are fleeing won appreciation and geopolitical risks, but Korean households see compelling valuations in memory chipmakers like SK Hynix. The question is whether retail enthusiasm can sustain a market that now sees 60% of daily turnover from individual investors, double US levels.

South Korea's KOSPI jumped 51.59 percent year-to-date, driven by semiconductor rebounds after the Iran war ceasefire pulled markets from March lows.

The Korean won strengthened 0.8% to 1,425.25 per dollar, marking its seventh straight daily gain—the longest streak since January 2013. The KOSPI surged 6.87% to close at 5,872 as the Iran ceasefire eased energy import concerns for the trade-dependent economy. Foreign investors bought $2.8 billion in Korean stocks year-to-date, driven by AI optimism around Samsung and upcoming FTSE bond index inclusion, with MUFG targeting 1,385 per dollar by year-end.

South Korea's Kospi jumped over 6.8% with Samsung and SK Hynix each rising more than 10% as Trump's ceasefire announcement lifted the extreme energy vulnerability weighing on Asian markets. The rally follows a brutal 19% March decline and a historic 12.1% single-day crash that eclipsed September 11th's damage. Korea imports 98% of its fossil fuels, with 70% of crude oil sourcing from the Middle East via Hormuz. The won strengthened alongside a 48.3% March export surge, suggesting the tech sector's AI-driven fundamentals remain intact despite geopolitical chaos.