{"id":65704,"date":"2026-07-30T20:38:19","date_gmt":"2026-07-31T00:38:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-on-tech-momentum-south-korea-triggers-sidecars-amid-13-surge\/65704\/"},"modified":"2026-07-30T20:38:19","modified_gmt":"2026-07-31T00:38:19","slug":"global-markets-rally-on-tech-momentum-south-korea-triggers-sidecars-amid-13-surge","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-on-tech-momentum-south-korea-triggers-sidecars-amid-13-surge\/65704\/","title":{"rendered":"Global Markets Rally on Tech Momentum; South Korea Triggers &#8220;Sidecars&#8221; Amid 13% Surge"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>South Korea\u2019s KOSPI index skyrocketed 13.1%<\/strong> in early Friday trading, reclaiming the 6,300 level as massive rebound buying in semiconductor giants triggered <strong>&quot;sidecar&quot; trading halts<\/strong> for five minutes.<\/li>\n<li><strong>Japan\u2019s factory output rose 1.3% in June<\/strong>, beating market estimates of 0.7%, while top FX diplomat Atsushi Mimura signaled readiness for <strong>&quot;appropriate actions&quot;<\/strong> to curb yen volatility following suspected overnight intervention.<\/li>\n<li><strong>The IMF completed its review for Egypt<\/strong>, unlocking an immediate <strong>$1.8 billion disbursement<\/strong> as the nation demonstrates resilience against regional geopolitical spillovers.<\/li>\n<li><strong>European and UK futures climbed 0.5% to 0.6%<\/strong>, tracking a tech-led Wall Street rally fueled by strong cloud-computing revenue from Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>) and a historic single-day gain for <a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> (<a href=\"\/stock\/MSFT\">MSFT<\/a>).<\/li>\n<li><strong>Geopolitical tensions flared in Eastern Europe<\/strong> as Romania scrambled two F-16 fighter jets after detecting aerial targets near its border with Ukraine, highlighting persistent regional risks.<\/li>\n<\/ul>\n<hr>\n<h2>Tech Optimism Ignites Asia-Pacific Markets<\/h2>\n<p>Global equity markets found a firm footing on Friday as a resurgence in megacap technology shares stateside rippled through Asian trading. The tech-heavy <strong>Nasdaq 100<\/strong>&#39;s 3.4% jump overnight, driven by a 16% surge in <a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> (<a href=\"\/stock\/MSFT\">MSFT<\/a>), provided the necessary momentum for regional indices to recover from recent sell-offs. Japan\u2019s <strong>Nikkei 225<\/strong> gained 2.8%, while Australia\u2019s <strong>ASX 200<\/strong> rose 0.9%, buoyed by the belief that heavy AI spending is finally translating into accelerated cloud revenue.<\/p>\n<p>In South Korea, the <strong>Korea Exchange (KRX)<\/strong> was forced to activate &quot;sidecars&quot; on both the <strong>KOSPI<\/strong> and <strong>KOSDAQ<\/strong> indices. These mechanisms, which halt program trading for five minutes, were triggered after <strong>KOSPI 200 futures<\/strong> surged 5% shortly after the open. The benchmark KOSPI eventually soared over 13%, led by a fierce rebound in chipmakers like Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>) and SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>), which had faced brutal pressure earlier in the week.<\/p>\n<h2>Japan\u2019s Economic Data and FX Vigilance<\/h2>\n<p>Japan released a mixed bag of economic indicators, with <strong>June Industrial Production<\/strong> rising 1.3% month-on-month, significantly outperforming the 0.7% forecast. Manufacturers remain optimistic, projecting a 4.5% output surge for August. However, the consumer side remains fragile; <strong>Retail Sales<\/strong> for June fell 4.1% month-on-month, missing estimates of a 1.6% decline, as rising energy costs and a weak yen continue to weigh on household purchasing power.<\/p>\n<p>On the currency front, Japan&#39;s top FX diplomat, <strong>Atsushi Mimura<\/strong>, maintained a stance of &quot;strategic ambiguity&quot; regarding recent market movements. While declining to confirm if Tokyo intervened overnight, Mimura emphasized that Japan is in <strong>&quot;close contact&quot;<\/strong> with U.S. authorities and is receiving support that goes &quot;beyond psychological.&quot; The <strong>USD\/JPY<\/strong> pair traded around the 160.35 level as markets braced for the Bank of Japan\u2019s upcoming policy decision.<\/p>\n<h2>IMF Support and Corporate Developments<\/h2>\n<p>The <strong>International Monetary Fund (IMF)<\/strong> announced the completion of its seventh review for Egypt\u2019s Extended Fund Facility. This move allows Egyptian authorities to draw approximately <strong>$1.8 billion<\/strong>, providing a critical liquidity buffer. The IMF praised Egypt&#39;s &quot;decisive policy response,&quot; including exchange rate flexibility and fiscal discipline, which have helped the economy withstand the impacts of the ongoing conflict in the Middle East.<\/p>\n<p>In the corporate sector, Brazilian petrochemical giant Braskem (<a href=\"\/stock\/BAK\">BAK<\/a>) reported a challenging second quarter. The company saw <strong>polyethylene sales volumes in Mexico drop 20%<\/strong> year-over-year, while resin sales in its home market of Brazil fell 8%. Meanwhile, Chinese antenna maker <strong>Shenzhen Sunway Communication<\/strong> (<a href=\"\/stock\/300136\">300136<\/a>) moved to dismiss media reports suggesting U.S. firms were requesting suppliers to exclude Chinese equipment, stating its R&amp;D and delivery of satellite products are proceeding normally.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korea\u2019s KOSPI index skyrocketed 13.1% in early Friday trading, reclaiming the 6,300 level as massive rebound buying [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[19078,33,21015,391,633,3403,3591,5137,6725,13802,17376],"class_list":["post-65704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-techearnings","tag-msft","tag-globalfinance","tag-amzn","tag-nvda","tag-imf","tag-forex","tag-kospi","tag-usdjpy","tag-bak","tag-krx"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/65704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=65704"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/65704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=65704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=65704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=65704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}