Key TakeawaysThe KOSPI index bounced back 5.76% on Friday to close at 8,088.34 after plunging to 7,300 in early morning tradingSK Hynix climbed 10.88% while Samsung Electronics advanced 8.22%, erasing much of Thursday’s devastating lossesNews of potential collaboration between AI firm Anthropic and Samsung on custom hardware development boosted sentimentMarket analysts describe Thursday’s panic selling as excessive reaction to Meta’s AI capacity monetization plansSK Hynix revealed plans for a $29.4 billion stock offering alongside an upcoming Nasdaq ADR listing to attract global investorsSouth Korean equities mounted an impressive recovery on Friday following one of the market’s most brutal sessions in years.The KOSPI benchmark plummeted to 7,300 during morning hours before rallying to finish 5.76% higher at 8,088.34. Trading had been suspended on Thursday after the index crashed 7.89%, triggering automatic circuit breakers.Major Semiconductor Stocks Drive Market ReboundSK Hynix soared 10.88% on Friday, bouncing back from Thursday’s devastating 14.6% plunge. Samsung Electronics climbed 8.22%, recouping a significant portion of its 9.1% decline from the previous session.SK hynix Inc. (000660.KS)These semiconductor giants represent the heaviest weightings in the KOSPI. Their performance heavily influences the broader index direction.Market sentiment received additional support from emerging reports suggesting Anthropic, an artificial intelligence company, is negotiating with Samsung to co-develop specialized hardware solutions.American memory chip manufacturer Micron experienced a 5.5% decline on Thursday, settling at $975.56. Despite the pullback, the stock maintains gains exceeding 166% year-to-date as memory semiconductors remain central to AI infrastructure investment themes.The KOSPI has surged approximately 92% in 2026, establishing itself as the globe’s top-performing major equity index. This substantially outpaces the S&P 500’s 9.3% advance during the same timeframe.Market Experts Label Thursday’s Panic Selling as ExcessiveThe catalyst for Thursday’s market collapse was a report indicating Meta intends to monetize excess AI computing infrastructure. Market participants interpreted this as a signal that artificial intelligence capital expenditure had reached its zenith.Multiple South Korean financial institutions challenged this interpretation.Kim Joong-han, an analyst at Samsung Securities, argued that computing capacity remains in “absolute shortage” and suggested the entire sector, Meta included, continues facing capacity constraints.Kim Young-gun from Mirae Asset Securities characterized the selloff as “a valid window for bargain buying in semiconductor stocks.”Mirae Asset projects global technology giants will deploy $806 billion in capital expenditures this year, representing a 73% year-over-year increase. The firm anticipates spending growth exceeding 20% in the following year.Major technology companies disclosed combined order backlogs totaling $2.1 trillion in Q1, marking a 24% quarterly increase. Approximately $656 billion of these orders are projected to convert into revenue within a two-year window.In a separate development this week, SK Hynix’s board greenlit a substantial $29.4 billion secondary share offering in conjunction with plans to list American Depositary Receipts on the Nasdaq Global Select Market.This strategic initiative could broaden SK Hynix’s shareholder base and enhance access to American capital markets. Analysts identify potential dilution and market absorption capacity as primary concerns surrounding such a substantial equity raise.The market faces its next critical test on July 7, when Samsung is scheduled to publish preliminary second-quarter financial results. These figures will likely determine whether Friday’s rally proves sustainable or merely represents a temporary reprieve.The post Korean Tech Giants Bounce Back: SK Hynix and Samsung Rally After Historic Market Plunge appeared first on Blockonomi.