Korean Stocks Erase War Loss as Chipmakers Rise on AI Resurgence
South Korean stocks have rebounded from losses triggered by the Iran conflict, driven by a rally in chipmakers as the artificial intelligence trade gains investor focus. The Kospi index climbed 1.2% to over 6,200, with memory firms Samsung Electronics and SK Hynix leading the gains.
South Korean stocks have rebounded from losses triggered by the Iran conflict, driven by a rally in chipmakers. The Kospi index rose 1.2% to over 6,200, with Samsung Electronics and SK Hynix leading the gains. The benchmark is up nearly 50% this year, making it one of the world's best-performing equity markets. SK Hynix shares jumped 3.4% ahead of its earnings report, after announcing production of a next-generation memory module for Nvidia's Vera Rubin platform. Samsung Electronics' quarterly profit surged eightfold, underscoring robust demand for AI hardware. The rally is driven by fundamental improvements in semiconductor and industrials, with Goldman Sachs lifting its Kospi target to 8,000.
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