AI boom drives a rally in buying of tech shares, pushing South Korea's Kospi to a record
South Korea’s Kospi has soared nearly 7% to a fresh record as Samsung Electronics' stock jumped nearly 13% in a rally driven by expectations of strong growth in artificial intelligence
TOKYO -- South Korea’s Kospi soared nearly 7% to a fresh record on Wednesday as Samsung Electronics' stock jumped nearly 13% in a rally driven by expectations of strong growth in artificial intelligence.
Shares in SK Hynix, another major Korean computer chipmaker, shot up 10% early Wednesday.
South Korea's market was closed Tuesday for a holiday.
Shares mostly rose in other Asian markets.
On Wall Street, stock prices rose to records Tuesday after oil prices eased and companies kept reporting bigger profits than analysts expected.
The S&P 500 climbed 0.8% to top its prior all-time high set at the end of last week. The Dow Jones Industrial Average added 356 points, or 0.7%, and the tech-heavy Nasdaq composite set its own record after rallying 1%.
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