Global Markets
Home›Global Markets›Asia›Kospi returns to bull market as Sandisk jumps on outlo…
Kospi returns to bull market as Sandisk jumps on outlook
Sandisk stock surged 13.7% after the company laid out a plan for consistent revenue growth through fiscal 2030, including guidance for mid-to-high-teens revenue growth.
South Korea's Kospi climbed back into bull market territory this week, gaining more than 20% from its July low as memory chip stocks led a broader recovery, according to Yahoo Finance.
The rally accelerated on Thursday when Sandisk (SNDK) jumped 13.7% on a bullish long-term outlook. Sandisk closed at $1,528.11 on Thursday after management described a strategy aimed at consistent revenue growth through fiscal 2030, with guidance for mid-to-high-teens revenue growth and adjusted gross margins near 80%.
Executives also said they expect to return 100% of excess cash to shareholders after investing in the business. Evercore ISI analyst Amit Daryanani pointed to new multiyear customer agreements worth $93.9 billion across eight clients, including three U.S. hyperscale data center operators, as support for his reiterated outperform rating.
The chip-led momentum extended into Friday's Asian trading, with Japan's Nikkei 225 up 1.73%, the Topix up 0.92%, and the Kospi advancing 2.11%. Not all analysts see the move as durable, with KB Securities' Peter Kim saying the prior sell-off was driven by technical factors and fund flows, and that whether foreign inflows keep supporting the 7,000 level could depend on how far Sandisk's confidence spreads across the rest of the memory chip sector.
Latest closeNikkei 225 68,308.59 ▲1.2%|Kospi 6,813.34 ▲3.6%