South Korea’s Korea Composite Stock Price Index (Kospi) climbed 2.86% in early Wednesday trading as chipmakers led a rebound from the previous session’s steep decline, with investors assessing returns on artificial intelligence infrastructure spending.
The benchmark was up 158.88 points at 5,711.62 at 8:15 p.m. ET Tuesday (9:15 a.m. KST Wednesday), Yonhap reported. It had opened 2.05% higher after falling nearly 4% in the previous session.
Samsung Electronics rose 4.14%, and SK hynix gained 5.89% at the morning snapshot. POSCO Holdings added 0.83%, and HD Hyundai Heavy Industries rose 0.16%. LIG Defense & Aerospace fell 11.86%, while S-Oil slipped 0.69%.
U.S. stocks had finished the preceding session mixed. The Dow Jones Industrial Average gained 1.02%, while the Nasdaq Composite edged down 0.02%. Earnings from several technology companies had supported interest in tech shares, Yonhap reported.
Investors were also awaiting results from Meta Platforms amid questions about the profitability of AI infrastructure spending. Meta shares had closed lower for five consecutive sessions through Oct. 20, according to S&P Global Market Intelligence data.
Meta’s third-quarter results are scheduled for release after U.S. markets close Wednesday, Oct. 21, followed by an earnings call at 4:30 p.m. ET.
