Asian Shares Rise 1% as Kospi Jumps 3.6% on AI Chipmaker Bets
Updated
Updated · Bloomberg · Jul 23
Asian Shares Rise 1% as Kospi Jumps 3.6% on AI Chipmaker Bets
3 articles · Updated · Bloomberg · Jul 23
Summary
MSCI’s Asia Pacific equities gauge gained 1% after regional chipmakers rallied on expectations they will capture billions of dollars from the global AI buildout.
South Korea’s Kospi—seen as a bellwether for AI investment—jumped 3.6%, with Samsung Electronics and SK Hynix each rising more than 2%.
Oil also extended its recent rally, but chip optimism again outweighed the drag from higher energy prices that had shadowed regional markets earlier this week.
The advance follows two straight sessions of AI-led gains in Asia, extending a rebound in semiconductor shares after a strong Nasdaq 100 and semiconductor-index bounce in the US.