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South Korea’s Kospi index jumps on a surge in chipmaking stocks
Foreign investors and short-covering fueled the rebound as Samsung Electronics and SK Hynix jumped more than 18% on easing AI-spending fears.
- On Friday, South Korea's Kospi index jumped more than 13%, tracking Wall Street gains as artificial intelligence-related stocks bounced back after losses earlier in the week.
- Tuesday and Wednesday saw The Kospi plummet more than 16% amid a sell-off of technology stocks, driven by concerns over an artificial intelligence bubble and rising competition from China.
- Technology giant Samsung Electronics surged 19.3% while memory chipmaker SK Hynix soared 22.6%, demonstrating the strength of South Korea's tech sector recovery.
- Tokyo's Nikkei climbed 4.9% in early trading, while multinational investment holding company and OpenAI-investor SoftBank Group jumped 15.1% as regional markets followed the rally.
- Asian markets continue tracking Wall Street trends as investors navigate the week's significant volatility in technology sectors, signaling potential for further swings ahead.
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51 Articles
51 Articles
At the end of a dark week marked by spectacular declines, the Seoul Stock Exchange is experiencing a strong boost of optimism. ...
·Brussels, Belgium
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The return of optimism for the artificial intelligence and semiconductor industries has sparked massive stock buying.
·Marousi, Greece
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·Seoul, Korea (the Republic of)
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The fever on the technology titles returns after the heavy sales that have recently hit the companies related to artificial intelligence, in particular those of the chips. (ANSA)
·Rome, Italy
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Total News Sources51
Leaning Left15Leaning Right9Center18Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 36%
C 43%
R 21%
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