South Korean Stocks Close Nearly 2% Higher as Chipmakers Surge; Samsung Electronics Jumps Over 4%

Deep News11-20

South Korean stocks closed nearly 2% higher on Thursday, led by a rally in chipmakers after Nvidia's optimistic demand forecast eased investor concerns about AI-related stocks. The benchmark KOSPI index rose 75.34 points, or 1.92%, to 4,004.85, rebounding from two consecutive days of declines.

Nvidia CEO Jensen Huang downplayed worries about an AI bubble on Wednesday, as the company's accelerated growth following several quarters of slowing sales surprised Wall Street.

"Samsung Electronics and SK Hynix's gains today indicate that the AI rally is not over yet," said Eugene Investment Securities analyst Huh Jae-hwan.

Among major stocks, Samsung Electronics Co., Ltd. surged 4.25%, while SK Hynix rose 1.60%. Battery maker LG Energy Solution gained 0.80%. In contrast, Hyundai Motor fell 0.76%, and Kia Corp. declined 0.96%.

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