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SK Hynix and Samsung shares surge over 20% as AI rally roars back
Blockbuster cloud earnings from Microsoft and Amazon revived optimism over AI spending, sending chipmakers and semiconductor ETFs sharply higher.
- On Friday, South Korea's chip heavyweights Hynix and Samsung Electronics soared more than 20% in Seoul, tracking a sharp tech rally driven by revived AI-linked infrastructure spending optimism.
- Stronger-than-Expected cloud results from Microsoft and Amazon spurred this rebound, with Microsoft rallying 16% during Thursday's regular session and Amazon jumping more than 9% after hours.
- The Kospi surged 17%, rebounding from a three-day rout that had taken the index more than 40% below its June peak, while Taiwan Semiconductor rose 10% and the Semiconductor ETF surged more than 8%.
- Crypto markets barely registered the equity surge, with bitcoin holding near $64,300 as roughly $27 billion changed hands, while a Coldcard security breach swept about 594 bitcoin worth roughly $38 million.
- Broader markets saw currencies weaken after the Bank of Japan left rates unchanged, contrasting with the equity rebound as treasuries rose and commodities extended their decline.
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32 Articles
The Dax is still on record, which is less due to its own strength than to good standards from Asia.
·Frankfurt, Germany
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Seoul shares surge record 18 pct to reclaim 6,500-point level on chip rally
South Korean stocks skyrocketed by a record 18 percent to reclaim the 6,500-point level Friday, driven by robust semiconductor gains as better-than-expected Microsoft earnings eased concerns over artificial intelligence
·Washington, United States
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BT+2 Reposted by 2 other sources
South Korean chipmakers are regaining some of their losses after Microsoft's financial results sparked optimism.
·Borås, Sweden
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Coverage Details
Total News Sources32
Leaning Left2Leaning Right6Center8Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
13%
C 50%
R 37%
Factuality
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