KOSPI Surges 16% in a Day but Remains 30% Below June Peak

South Korea's KOSPI jumped 16% on July 31, 2026, closing at 6,369.71, up from 5,593.56, driven by chipmaking stocks on renewed AI enthusiasm, per the Wall Street Journal. The index still sits about 30% below its June 22 record close of 9,114.55, keeping it in bear-market territory by the standard 20% threshold.