South Koreas Kospi bounces back after chip and tech market rout

Image for article South Koreas Kospi bounces back after chip and tech market rout
News Source : Business Insider

News Summary

  • South Korea's benchmark Kospi index rebounded as much as 4.6% in early trade after plunging 10% on Tuesday.
  • The index closed 3.3% higher after trade turned volatile around midday.
  • The moves followed a sharp rout in global technology stocks, as investors dumped high-flying semiconductor and artificial-intelligence names.
  • Japan's Nikkei 225 ended 0.9% lower; Taiwan's Taiex lost 2.2%, as heavyweight chipmaker TSMC closed 4% lower.
Asian markets steadied on Wednesday after a bruising techled selloff rattled global investors. South Koreas benchmark Kospi index led the gains, rising as much as 4.

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