South Korea's Kospi jumps 7% as AI memory chips rally
South Korea's Kospi index just soared 7%, its second day of big gains, even with global tensions in the mix.
The boost came from upbeat US inflation numbers and a strong Wall Street, but the real stars were semiconductor stocks, which jumped thanks to growing excitement about AI-powered memory chips.
SK Hynix CEO predicts memory shortage
Semiconductor shares have been pretty volatile lately, especially after SK Hynix dropped due to $5 billion in ETF selloffs.
Still, there's plenty of optimism: SK Hynix's CEO predicts a worldwide memory chip shortage by 2027, and on Wednesday Samsung Electronics jumped 8%, SK Hynix surged over 13%, and Hanmi Semiconductor rocketed up 25%.
Even SK Hynix's U.S.-listed shares shot up more than 27%, showing that AI is sparking hope for long-term growth everywhere.