Kospi Jumps as Much as 2.7% as Samsung and SK Hynix Lead Chip Rally

South Korea’s Kospi jumped as much as 2.7% on Monday, led by chipmakers Samsung Electronics and SK Hynix ahead of closely watched earnings. The index briefly traded above 8,300 points before easing toward 8,150, according to BeInCrypto, while Japan’s Nikkei 225 rose 0.73% and broke above 70,000 as regional chip stocks rallied.

Samsung climbed as much as 4% and SK Hynix rose up to 1.8%; Kioxia gained nearly 1% in Japan, while SoftBank fell more than 2%. The won weakened to 1,533.90 per dollar, down 8.3 won from Friday’s close. Traders are also positioning ahead of SpaceX’s Nasdaq 100 inclusion on Tuesday; Samsung’s preliminary second-quarter results are due Tuesday.