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South Korean stocks surged over 3% on Wednesday, as concerns over AI spending eased.
South Korean stocks rebounded on Wednesday from the previous session's sharp decline, with semiconductor shares rising and easing concerns about artificial intelligence (AI) spending. The benchmark Korea Composite Stock Price Index (KOSPI) rose 182.92 points, or 3.29%, to close at 5,735.66, after climbing as high as 5,816.43 during intraday trading. The Korean won strengthened against the U.S. dollar. The strong rebound prompted the Korea Exchange to trigger a buy-side circuit breaker (sidecar) before 11 a.m., temporarily halting trading.
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