AI boom drives a rally in buying of tech shares, pushing South Korea’s Kospi to a record :: WRAL.com
AI boom drives a rally in buying of tech shares, pushing South Korea’s Kospi to a record :: WRAL.com
Publish Date: 2026-05-05 23:49:00
Source Domain: www.wral.com
- South Korea’s Kospi index reached a new record, surging nearly 7% on Wednesday.
- Samsung Electronics’ stock led the rally, jumping nearly 13% due to strong growth expectations in artificial intelligence.
- Shares in major Korean computer chipmaker SK Hynix increased by 10% early in the day.
- South Korea’s market had been closed for a holiday, impacting the day’s trading.
- Most shares in other Asian markets also experienced rises.
- On Wall Street, stock prices continued their upward trend, reaching records on Tuesday following lowered oil prices and better-than-expected corporate profits.
- The S&P 500 index climbed 0.8%, surpassing its previous all-time high set at the end of last week.
- The Dow Jones Industrial Average gained 356 points (0.7%), and the Nasdaq composite also set a record with a 1% rally.
