Tech stocks drive record gains in Seoul and Tokyo
Stock markets in Seoul and Tokyo soared to new highs as tech companies led a rally across Asia. Investors showed enthusiasm for artificial intelligence, following positive momentum from Wall Street. Major chipmakers and tech firms were among the top performers, while optimism was boosted by deals and presentations from leading AI companies. Currency and commodity markets also saw some notable movements alongside the stock surge.
What we know
- Tech firms powered record highs in Seoul and Tokyo, with chipmakers Samsung and SK hynix leading gains.
- The Kospi index in Seoul surpassed 6,000 points for the first time, and Tokyo’s Nikkei 225 climbed over 2%.
- AI-related optimism was fueled by a presentation from Anthropic and news that Meta agreed to buy millions of chips from AMD.
- Wall Street’s recent rally provided a strong lead for Asian markets, despite concerns over elevated tech valuations.
- Other Asian markets, including Hong Kong, Shanghai, Sydney, Mumbai, and Bangkok, also saw gains, while Singapore, Wellington, and Jakarta slipped.
