South Korea’s Kospi index has returned to bull market territory, rising more than 20% from its July low, driven by a broad recovery in memory chip stocks. Sandisk shares surged 13.7% Thursday to close at $1,528.11 after unveiling a strategic plan projecting mid-to-high-teens revenue growth and adjusted gross margins near 80%, supported by multiyear customer agreements worth $93.9 billion. Micron gained 4.2% and SK Hynix 7.3% Thursday, while the Kospi crossed the 7,000-point threshold for the first time in 15 trading sessions. Some analysts remain cautious about the durability of this move, noting that the earlier selloff was driven more by technical factors than by fundamental changes in semiconductor earnings prospects.
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