Japan and South Korea Stocks Open Stronger, KOSPI Rises Over 3%, SK Hynix and Samsung Electronics Lead

TradingKey07-23

TradingKey - In early Asian trading on July 23, Japanese and South Korean stock markets extended the rebound from the previous trading day, with major stock indices both opening higher. The KOSPI rose 3.41%, and the Nikkei 225 rose over 0.5%.

The Korea Composite Stock Price Index (KOSPI) rose 3.41% in early trading, crossing the 7,000-point mark to temporarily stand at 7,029.46 points.

Source: TradingView

The semiconductor sector continued to lead the gains, with SK Hynix rising 5% and Samsung Electronics gaining 3.65%, its share price climbing back to around 270,000 won (approximately $194.8), as heavyweight tech stocks delivered strong performances.

Japanese equities also maintained their upward momentum, with the Nikkei 225 Index rising over 0.5% to temporarily stand at 66,467.88 points. In individual stocks, Kioxia rose 3.41% to 66,520 yen (approximately $407.84); SoftBank Group climbed 1.6% to 5,792 yen, showing overall strength driven by tech stocks.

On the news front, Google ( GOOGL) raised its full-year capital expenditure forecast to $195 billion to $205 billion, and plans to further expand its use of third-party computing power resources in the third quarter, indicating that investment in AI infrastructure continues to ramp up.

This news drove related stocks higher after-hours, with CoreWeave ( CRWV) rising 2.9%, Micron Technology ( MU) gaining 2.48%, further boosting market sentiment for Asian semiconductor and AI concept stocks.

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