Seoul stocks surged late Wednesday morning, with the KOSPI rising 5.54% to 7,121.84, driven by foreign investors acquiring tech heavyweights like Samsung Electronics and SK hynix. The rally followed overnight gains in U.S. stocks, particularly semiconductors, as markets anticipate major tech earnings to gauge AI investment returns.
Seoul stocks closed sharply higher, with the benchmark KOSPI gaining 3.56% as investors engaged in bargain hunting for tech heavyweights like Samsung Electronics and SK hynix. The Korean won also strengthened, supported by a bullish outlook for memory chips and positive Middle East mediation news.
Analysts believe a sharp pullback in SpaceX and valuation pressure on US tech giants will not significantly impact Hong Kong equities, citing distinct business models and less stretched valuations for local tech firms.
Apple surpassed Nvidia to become the world's most valuable company at $4.88tn, driven by shifting investor focus in the AI race. This marks Apple's return to the top spot since April last year, while Nvidia's shares declined.
South Korean stocks opened higher on Friday, with the KOSPI index rising 2.41% to 7,467.91, driven by gains in major technology companies like Samsung Electronics. This follows positive overnight performance on Wall Street, influenced by semiconductor shares and lower oil prices.
Hong Kong's Hang Seng Index and Hang Seng Tech Index saw significant gains, driven by institutional buying in tech giants like Alibaba and SMIC. Knowledge Atlas Technology (Zhipu AI) also surged, absorbing equity unlocks smoothly.
Tencent, Alibaba, Meituan, and Xiaomi are initiating large share buy-back programs to counter low stock prices and investor skepticism. Analysts suggest the sector may be nearing a bottom, with companies using buy-backs and leadership appearances to restore market confidence.
Seoul stocks surged Friday, with the KOSPI index climbing over 200 points to surpass 9,200, driven by strong performance in chipmakers like Samsung Electronics and SK Hynix, following positive leads from Wall Street.
