South Korea's KOSPI index surges 22% on AI chip rallies
Business
South Korea's KOSPI index just made a strong comeback, jumping 22% since July 30 after a tough drop last month, its worst month since the global financial crisis.
The boost mainly comes from Samsung and SK Hynix, whose shares surged as excitement around AI investments from global tech giants pushed the market up.
US inflation eases rate fears
A recent US inflation report eased worries about interest rate hikes, giving chip stocks extra momentum.
Although foreign investors pulled out more than $100 billion earlier this year, some are now returning because prices look more attractive.
Plus, upcoming announcements from Samsung and SK Hynix about shareholder returns have lifted investor confidence even more.