SOUTH Korean shares surged 6% on Wednesday, as investors rotated back into AI plays ahead of major tech and chip earnings in the U.S. after last week’s sharp selloff wiped billions off the sector.
The benchmark KOSPI was up 316.67 points, or 4.69%, at 7,064.62 as of 0341 GMT, after climbing as much as 6.2% earlier in the day. The junior Kosdaq index advanced almost 5%.
The KOSPI exchange enforced a temporary suspension of program trading called “sidecar”, triggered when the benchmark moves 5% on either side, the 11th such curb in 15 trading days this month.
It highlighted the heightened volatility in the market, weighted in favour of rival chipmakers Samsung Electronics and SK Hynix at the heart of the global AI trade.
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