South Korea’s stock market skyrocketed a whopping 18% on Friday, nearly wiping off all losses recorded in a three-session losing streak as strong earnings from Wall Street majors brought in a fresh wave of optimism around tech-focused stocks, which in turn sparked the massive rally in South Korea’s seesaw market, which an analyst quipped to be 'bipolar'.
Ironically, US tech firms released better-than-expected quarterly results, but the shares of Korean tech giants Samsung and SK Hynix rallied sharper, skyrocketing up to 28%. On Wall Street, Microsoft shares rallied 16%, adding a record $450 billion to its market cap in just one session.
