AI rally roars back
Asian semiconductor stocks experienced a significant rally following strong earnings reports from U.S. tech giants Amazon and Microsoft. This surge marks a recovery from recent market volatility driven by concerns over AI valuations and competition.
Why it matters
The rebound highlights the continued investor confidence in AI infrastructure spending and the interconnectedness of global technology markets.
South Korea's chip heavyweights SK Hynix and Samsung Electronics skyrocketed in Seoul on Friday, tracking a sharp rally in U.S. technology stocks after blockbuster earnings from Amazon and Microsoft revived optimism around artificial intelligence spending.
SK Hynix closed nearly 30% higher, marking its best day on record. Samsung closed nearly 27% higher, also clocking its highest single-day gains. LG Innotek advanced 21.23% and Seoul Semiconductor rose 15%.
Japanese chip stocks also rallied sharply. Advantest climbed more than 16%, while Tokyo Electron gained 6.24%, Disco rose 12.74%, Lasertec advanced 12.74% and Renesas Electronics added 7.7%. SoftBank Group , a key artificial intelligence proxy as its owns Arm , also jumped 13.8%.
The chip rally in Asia marks a sharp reversal from this week's bruising sell-off, as semiconductor stocks were battered by concerns over lofty AI valuations and signs of intensifying competition from Chinese memory chipmakers.
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