The Nvidia effect: How 2 Korean memory giants drove a 213% market rally

The KOSPI Composite Index has delivered 212.84 per cent over the past year. Year to date the return is 94.78 per cent. Over six months, 105.96 per cent. The index now trades between 8,220 and 8,457 after spending most of the past decade below 3,000. Its 52-week low was 2,643 and today it sits around 8,228.70.

These are not normal stock market numbers. They are the kind of returns that demand a specific explanation not a general one about growth prospects or monetary policy, but a precise account of what changed and why capital flooded into South Korean equities at this scale and speed.