{"id":64536,"date":"2026-07-09T23:08:14","date_gmt":"2026-07-10T03:08:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korean-markets-rebound-on-tech-strength-japans-gpif-shift-boosts-yen\/64536\/"},"modified":"2026-07-09T23:08:14","modified_gmt":"2026-07-10T03:08:14","slug":"south-korean-markets-rebound-on-tech-strength-japans-gpif-shift-boosts-yen","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/south-korean-markets-rebound-on-tech-strength-japans-gpif-shift-boosts-yen\/64536\/","title":{"rendered":"South Korean Markets Rebound on Tech Strength; Japan\u2019s GPIF Shift Boosts Yen"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>South Korean equities rallied as the KOSPI jumped 4%<\/strong>, led by a surge in semiconductor heavyweights Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>) and SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>) following a strong overnight performance in U.S. tech stocks.<\/li>\n<li><strong>Japan\u2019s yen and long-term bonds rose<\/strong> after Finance Minister Satsuki Katayama signaled a push for the <strong>Government Pension Investment Fund (GPIF)<\/strong> to increase its allocation toward domestic assets.<\/li>\n<li><strong>A devastating wildfire in Almer\u00eda, Spain, has claimed 12 lives<\/strong>, with regional authorities in Andaluc\u00eda declaring an emergency as 150 firefighters battle the blaze amid a severe heatwave.<\/li>\n<li><strong>South Korean prosecutors requested a 13-year prison sentence<\/strong> for Unification Church leader <strong>Han Hak-ja<\/strong> on charges of embezzlement and political collusion involving former government officials.<\/li>\n<li><strong>South Korea successfully auctioned 800 billion won in 50-year Treasury bonds<\/strong> at a yield of <strong>4.345%<\/strong>, reflecting a significant rise in borrowing costs compared to the previous year.<\/li>\n<\/ul>\n<p><strong>South Korean markets<\/strong> saw a sharp recovery on Friday, driven by a rotation back into the semiconductor sector. The benchmark <strong>KOSPI<\/strong> index rose as much as <strong>4.00%<\/strong> to reach <strong>7,583.66<\/strong>, while the tech-heavy <strong>KOSDAQ<\/strong> surged over <strong>6%<\/strong>. This rally was catalyzed by a strong performance from U.S. chipmakers like <a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a> (<a href=\"\/stock\/MU\">MU<\/a>) and <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>), which provided a positive lead for local giants Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>) and SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>).<\/p>\n<p>In Japan, the <strong>yen strengthened by 0.6%<\/strong> to approximately <strong>161.39 per dollar<\/strong> following comments from the Finance Ministry. Minister Katayama expressed a desire for the <strong>GPIF<\/strong>, the world\u2019s largest pension fund with <strong>293.4 trillion yen ($1.8 trillion)<\/strong> in assets, to prioritize domestic financial assets. This potential shift in strategy led to the steepest drop in benchmark <strong>10-year Japanese Government Bond (JGB)<\/strong> yields in a month, falling to <strong>2.805%<\/strong>.<\/p>\n<p>On the legislative front, South Korea\u2019s Foreign Ministry defended the recently revised <strong>Information and Communications Network Act<\/strong>, asserting it is <strong>nondiscriminatory<\/strong> toward foreign firms. The statement follows concerns from the U.S. State Department that the law, which targets &quot;false and manipulated information,&quot; could impose &quot;disproportionate&quot; burdens on American tech companies like Google (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) and Meta (<a href=\"\/stock\/META\">META<\/a>).<\/p>\n<p>In a major legal development, a South Korean special prosecutor has sought a <strong>13-year jail term<\/strong> for <strong>Han Hak-ja<\/strong>, the leader of the Unification Church. The trial involves allegations of <strong>church-politics collusion<\/strong> and the illegal solicitation of favors for high-ranking officials. A verdict is expected by mid-August, marking a significant moment in a case that has tested the country&#39;s democratic and judicial institutions.<\/p>\n<p>Tragedy struck southern Spain as a <strong>wildfire in Los Gallardos, Almer\u00eda<\/strong>, resulted in at least <strong>12 fatalities<\/strong>. The regional government of <strong>Andaluc\u00eda<\/strong> reported that fanned by <strong>70 km\/h winds<\/strong> and extreme heat, the fire spread rapidly, trapping some victims in their vehicles. Emergency services have evacuated multiple districts and deployed the Military Emergency Unit to assist the <strong>150 firefighters<\/strong> currently on the scene.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korean equities rallied as the KOSPI jumped 4%, led by a surge in semiconductor heavyweights Samsung Electronics 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