韩国和日本股市在7月31日迎来大幅反弹，韩国KOSPI指数一度暴涨超16%，刷新历史最大单日盘中涨幅[1]。其中SK海力士涨幅达24%，三星电子涨超20%[1]。日经225指数大涨超5%，一度暴涨超3200点[1]，软银股价一度上涨15%，触及日内涨停板[1]。
这轮反弹力度之猛与此前跌幅形成鲜明对比。7月29日，韩国KOSPI指数一度暴跌逾12%触发熔断[1]，7月以来月度跌幅高达33.19%，创历史最大单月跌幅纪录[1]。
支撑此次反弹的是多重利好消息的共同作用。韩国财政部7月31日宣布，将于明年成立新的主权财富基金，初始规模至少为20万亿韩元（约合140亿美元），重点投向人工智能、数据中心和基础设施[1]。SK集团会长崔泰源买入3620股SK海力士股票，价值约48亿韩元（约合320万美元）[1]。摩根大通指出去杠杆进程已完成约九成[1]。同时，隔夜美股科技股全面爆发也带动了亚洲市场反弹，微软7月30日发布强劲财报，股价暴涨超15%，单日市值增加约4500亿美元（约合人民币3万亿元）[1]。汇丰银行策略师认为当前正是将股票仓位提升至"最大超配"的时机[1]，全球股市距离历史高点仅约1%[1]。
South Korean and Japanese equities experienced dramatic recoveries on July 31, driven by a confluence of positive catalysts and oversold conditions following a severe selloff earlier in the month.[1] The KOSPI index surged over 16% intraday, marking its largest single-day percentage gain on record, while the Nikkei 225 jumped more than 5%, at one point climbing over 3,200 points.[1] Major technology stocks led the advance, with SK Hynix rallying 24% and Samsung Electronics climbing more than 20%.[1] In Japan, SoftBank's share price rose as much as 15% and hit its daily limit-up level.[1]
The rebound followed extreme turbulence just two days prior, when the KOSPI had plummeted over 12% on July 29, triggering circuit breakers.[1] The index had recorded a devastating 33.19% monthly decline through July, its worst month on record.[1] Multiple supportive developments reignited investor appetite: South Korea's finance ministry announced plans to establish a new sovereign wealth fund with an initial capitalization of at least 20 trillion Korean won (approximately $1.4 billion USD) to focus on artificial intelligence, data centers, and infrastructure, set to launch next year.[1] SK Group Chairman Chey Tae-won made a symbolic show of confidence by personally purchasing 3,620 shares of SK Hynix valued at around 4.8 billion Korean won (approximately $3.2 million USD).[1] Additionally, JPMorgan Chase indicated that deleveraging of Korean asset-linked exchange-traded funds—which had ballooned to roughly $50 billion by late June—was approximately 90% complete.[1] Overnight strength in U.S. technology stocks, including a 15% surge in Microsoft's share price following robust earnings on July 30 that added approximately $450 billion in market value, also provided tailwinds for regional markets.[1] HSBC strategists characterized the moment as opportune to elevate equity positioning to maximum overweight, noting global stock markets remain within 1% of all-time highs.[1]
