Asian equity markets saw a strong rally on Thursday, with South Korea's KOSPI index surging nearly 6% intraday. This sharp rise was primarily driven by a more than 5% increase in shares of SK Hynix, following the company's announcement of a significant stock buyback, according to FX Street.
The buyback move by SK Hynix appears to have boosted investor confidence, lifting the broader South Korean market and contributing to the overall positive momentum across Asian equities.
For Japanese investors, the surge in KOSPI highlights the growing influence of South Korean tech stocks and the potential impact of corporate actions like buybacks on regional market dynamics.