Kospi Surges as SK Hynix, Samsung Keep Global AI Rally Raging On

Dow Jones16:53

Tech stocks surged in Asian trading on Monday as investors bet the artificial-intelligence boom will continue to drive up demand for chips and memory products.

South Korea's tech-heavy Kospi index closed 4.6% higher as memory-chip makers Samsung and SK Hynix jumped 5.7% and 8.3% respectively.

Tokyo's Nikkei 225 advanced 2.1%. Mainland China's CSI 300 gained 0.6%, although Hong Kong's Hang Seng dipped 0.9%.

The stronger-than-expected August jobs report that came out on Friday may have helped power those gains. The data showed the U.S. added 162,000 payrolls last month, way above economists' target.

European stocks weren't following suit, though. The continent's flagship Stoxx 600 slid 0.2% in early trading on Monday.

Frankfurt's Dax slid 0.2% after right-wing populist party Alternative for Germany won a regional election in the state of Saxony-Anhalt. London's FTSE 100 and Paris's CAC 40 were struggling for direction.

U.S. stock and bond markets were closed for Labor Day.

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