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09.02.202601:33:57UTC+00South Korean Shares Rally on Tech Rebound

On Monday, the benchmark KOSPI experienced a notable increase of 4.11%, surpassing the 5,290 mark as it rebounded from the losses of the previous week, aiming for new record highs. This resurgence in investor confidence was led by a renewed interest in risk assets after a significant tech-driven sell-off. Last week, the market mirrored Wall Street’s downturn due to concerns over AI valuations, but optimism returned when US stocks bounced back on Friday, leading to strategic buying opportunities across Asian markets. The index demonstrated widespread sector strength, marked by significant gains in Samsung Electronics, up 5.74%, SK Hynix rising 6.08%, SK Square surging 10.12%, along with Hanwha Aerospace and Doosan Enerbility increasing by 5% and 7.75%, respectively. Samsung Electronics' shares saw a substantial boost owing to growing enthusiasm around its high-bandwidth memory technology. The company is poised to commence the mass production of its sixth-generation HBM4 chips this month, with plans to start shipments to Nvidia soon after the Lunar New Year, supporting the American chipmaker’s upcoming AI accelerator products.

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