Markets
Following the sharp drop in stock prices on Wall Street, markets in East Asia got off to a positive start this trading week. (File photo)
Keystone
Stock markets in East Asia have rebounded somewhat following last week’s dramatic sell-off in AI sector stocks. The Japanese benchmark index, in particular, rose significantly.
Today at 03:41At the start of the week, two hours after the market opened, Japan’s leading index, the Nikkei 225, was up a solid 3 percent. At the same time (11:00 a.m. local time), South Korea’s Kospi was up 1.2 percent.
Samsung Electronics and SK Hynix, memory chip manufacturers that play a key role in the AI supply chain, also got off to a positive start to the trading week, rising 2.6 percent and 3.7 percent, respectively.
The Hang Seng Index on the stock exchange in the Chinese Special Administrative Region of Hong Kong, which opened an hour later, rose by about 0.7 percent, while the CSI 300 Index—which tracks the 300 leading stocks on China’s mainland stock exchanges—rose by just under 0.5 percent.
At the end of last week, an extraordinary AI-driven sell-off took place on Wall Street, which also hit Asian stock markets hard.