South Korean Stocks Surge on AI Optimism and Chip Industry Hopes
South Korean stock markets experienced a significant rally, with the Kospi index surging by a record 18%, driven by renewed optimism in the AI sector and the chip industry following strong earnings reports from tech giants like Microsoft.
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South Korean shares surge after chip stock rout
It comes after a three-day rout that wiped hundreds of billions of dollars off the value of the country's stock market.
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Read full article →Kospi jumps 18% to post record daily gain
South Korean stocks posted their largest daily gain on record Friday, as a chip-led rebound and massive foreign buying lifted the Kospi by more than 1,000 points. The benchmark Kospi closed at 6,595.45, up 1,001.89 points, or 17.91 percent, marking record daily gains in both point and percentage terms. It opened just 1.15 percent higher at 5,657.79 before rapidly climbing by double digits to reach an intraday high of 6,630.77, up 18.5 percent. A buy-side sidecar was triggered on the Kospi at 9:0
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