The South Korean stock market, following a three-day rout that saw hundreds of billions of dollars wiped from its value, is seeing share prices jump as faith is restored in chip makers such as SK Hynix and Samsung.
As reported by BBC News, earnings updates from Amazon and Microsoft saw large amounts of money being made through investment in AI. This resulted in further interest in the companies making chips, which also saw boosts in the Japanese and Taiwanese stock markets as well. In South Korea, Samsung's shared popped up by 28%, while SK Hynix saw an increase of shares by almost 30%. SK Hynix is one of the leading suppliers for AI firm Nvidia.
The AI gambit from big tech may be beginning to pay off, but this week a lot of doubters sold their stock due to the unknown future of the tech. The Kospi index, South Korea's stock market, has seen a lot of volatile trading this year, thanks to a large increase in retail investors.
