Kospi-Nasdaq 100 correlation hits highest since 2021 on AI chip trade
2026-07-28 01:29:11
According to CNBC, the 60-day correlation between South Korea’s Kospi and the Nasdaq 100 recently rose to about 0.50, its highest level since 2021, as artificial intelligence spending links U.S. technology giants and Korean memory chipmakers. Samsung Electronics and SK Hynix now account for more than half of the Kospi, and analysts said the market is increasingly acting as a semiconductor gauge. Rolf Bulk of Futurum Group said the correlation has risen because the Kospi has become a semiconductor index, while Jung In Yun of Fibonacci Asset Management said Samsung and SK Hynix give investors the first liquid market reaction to overnight developments affecting global AI demand. The article said the Kospi fell more than 8% on July 13 after SK Hynix dropped 15%, while the Nasdaq 100 ended 1.88% lower; Micron Technology fell 4%, Sandisk lost 12% and Intel declined 6%.
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