Svmuu News: After falling nearly 10% over the previous two trading days, the South Korean stock market rebounded. On Friday, South Korea’s KOSPI index rose as much as 5.5%, with shares of Samsung Electronics and SK Hynix both climbing more than 9%. As KOSPI futures prices surged, the Korea Exchange temporarily suspended algorithmic buying. Foreign funds and retail investors were net sellers of stocks in the index, while domestic South Korean funds increased their holdings of these stocks.
This comes amid reports that Anthropic PBC is in talks with Samsung to jointly develop custom AI chips, while market anticipation is growing for Samsung’s upcoming preliminary earnings report. Jeong In-yoon, Global CEO of Fibonacci Asset Management, said, “The collaboration between Anthropic and Samsung is still in its early stages, so the impact on earnings will be limited in the short term, but it is a positive signal on a strategic level. This solidifies Samsung’s position in the AI chip sector and underscores Asia’s importance in the AI semiconductor supply chain.” (Jin Shi)