Asian stocks rally as Kospi surges 17%; yen falls as BOJ holds rates

Published Jul 30, 11:57 PM UTC

Asian stock markets rallied on Friday, July 31, 2026, led by a record intraday surge of 17% in South Korea's Kospi index, as investors renewed bets on the artificial intelligence trade. The yen weakened after the Bank of Japan (BOJ) kept its policy rate unchanged, maintaining its accommodative stance. The rally reflects growing optimism around AI-related equities in the region, particularly in South Korea, while the BOJ's decision to hold rates contributed to yen depreciation. The article, published by The Business Times Singapore, highlights the contrasting market movements across Asia driven by sector-specific and monetary policy factors.