South Korea's KOSPI Rallies 3.76% on August 5 as Memory Chip Demand Surges

According to Korean Exchange data, on August 5, KOSPI rallied 3.76% to 6,598.26 as memory chip demand exceeded supply expectations. SK Hynix surged 5.77% to 1.668 million won, while Samsung Electronics rose 2.50% to 246,000 won. Bank of America initiated coverage of SK Hynix with a buy rating and 3 million won price target, forecasting the company will enter a super-cycle in Q3 2026 with annualized operating profit exceeding 300 trillion won. Elon Musk stated that memory production grows roughly 20% annually while demand could increase over 200% yearly, signaling a supply-demand imbalance supporting higher prices.
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