Chipmakers Samsung and SK Hynix soar nearly 30% as Amazon sparks relief rally

Samsung Electronics and SK Hynix staged a sharp relief rally, surging nearly 30% after strong quarterly results from Amazon and Microsoft reassured investors that AI-related infrastructure demand remains intact. The move sparked a broad rebound across Asian chip stocks and lifted key regional indices, with South Korea’s KOSPI jumping as much as 17%, Taiwan up more than 7%, and Japan’s Nikkei 225 up over 5%. The article frames the rally as a combination of short-covering and valuation repair after a steep sell-off in Asian technology shares, rather than a full trend reversal. Wall Street’s strong tech-led rebound, alongside Amazon’s higher capex guidance and Microsoft’s cloud strength, was the key catalyst behind improved sentiment.