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The global AI trade revival was the defining sectoral narrative. After a brutal selloff in late July, a rebound in AI infrastructure investment drove a dramatic turnaround .

South Korea's Kospi entered a technical bull market on Thursday, August 13, surging over 4% and climbing more than 20% from its July 30 low — the commonly used definition of a bull market . By Friday, August 14, it rose another 2.4% to close near 6,978, recording an 11.5% weekly gain that snapped a seven-week losing streak . The index had rebounded as much as 31% from its late-July low .

Japan's Nikkei 225 extended its rally on Friday, gaining 0.85% to 68,889.01 by the midday break . While the index did not re-cross 69,000 during the week (it closed at ~68,308 on Thursday, August 13), it had first breached that level in June 2026 and remained elevated on the macro tailwind .

Company-Specific Catalysts Amplified the Rally

While macro factors set the stage, individual company stories provided the firepower.

SK Hynix

Surged over 7% on Thursday, August 13, and another ~6% on Friday, making it one of the strongest Kospi drivers. The stock broke above $1,150 on heavy AI-chip demand optimism . Alongside Samsung Electronics, it powered the Kospi's bull-market entry .

Samsung Electronics

Gained nearly 5% on Thursday and continued rising Friday, as the memory-chip heavyweight rode the AI trade revival .

Kioxia

Surged nearly 7% on Thursday and another ~7% on Friday in Tokyo trading, driven by the AI chip demand story and follow-through from U.S. semiconductor strength .

SanDisk

Jumped 13.7% on Thursday, August 13, following a bullish long-term outlook and a cash return announcement at its Investor Day. The company projected mid-to-high double-digit revenue growth for FY2028–FY2030, supported by $94 billion in long-term pricing agreements . This provided an additional catalyst that carried into Asian trading Friday .

SoftBank

Continued its upward momentum as a beneficiary of the tech rally and the broader AI narrative, among the Nikkei leaders during the week .

Caution Signs Beneath the Surface

Despite the powerful rally, several analysts noted risks. The Kospi's recovery was heavily concentrated in a few heavyweight technology stocks, particularly Samsung and SK Hynix . Foreign investors remained net sellers of South Korean shares overall in 2026, even as they turned buyers during the record rally . The technical bull market does not guarantee a sustained uptrend, and the index remains vulnerable to shifts in AI sentiment or a reacceleration of U.S. inflation .

The Bottom Line

The mid-August 2026 rally was a layered event: benign U.S. inflation removed a key macro headwind, record Wall Street closings transmitted momentum to Asia, and the AI/semiconductor trade — led by SK Hynix, Samsung, Kioxia, and SoftBank — provided the sector-specific firepower that pushed the Kospi into a technical bull market and kept the Nikkei near its historic highs. Whether the rally has further to run will depend on sustained AI demand and the Fed's next move.