Asian Shares Advance as Tech Stocks Rebound from AI Jitters

Asian shares advanced on Monday, lifted by technology stocks as they rebounded from last week’s jitters over the run-up in artificial intelligence (AI)-related shares, Elaine Kurtenbach reported for the Associated Press (AP).

South Korea’s Kospi led the gains, jumping 3.5% on the back of computer chip maker SK Hynix's 5.5% surge. (Photo: SK Hynix)

South Korea’s Kospi led the gains, jumping 3.5%. Computer chip maker SK Hynix, which is collaborating with Nvidia on AI, surged 5.5%, while its larger rival Samsung Electronics rose 2.4%.

Tokyo's Nikkei 225 added 1.2% to 50,897.20, buoyed by big gains in AI-related shares such as chipmaker Tokyo Electron, which climbed 4.7%.

The Hang Seng in Hong Kong rose 0.8% to 26,445.65, and the Shanghai Composite Index was barely changed at 2,630.42. Australia’s S&P/ASX 200 gained 0.7% to 8,826.50.

Taiwan's Taiex jumped 1.2%, while India’s Sensex rose 0.5%.

On Friday, stock indexes closed mixed on Wall Street, recording their first weekly loss in four weeks. The S&P 500 inched 0.1% higher to 6,728.80, while the Dow Jones Industrial Average added 0.2% to 46,987.10.