Asian Markets Rebound: South Korea and Japan End Losing Streaks Despite Weekly Losses
South Korea: The KOSPI rose 2.05% to 5,668.05 on Friday, ending a seven-session losing streak as bargain hunting lifted stocks from a six-month low.
Despite the rebound, the KOSPI plunged 14.5% for the week, marking its third consecutive weekly decline and the steepest weekly fall since October 2008.
Thursday’s nearly 8% crash followed a sell-off in technology stocks triggered by higher-than-expected US inflation data and concerns over the sustainability of AI investment.
Japan: The Nikkei 225 gained 1.39% to 65,324.29, ending a six-session losing streak as AI-related stocks recovered. However, the index fell 5.37% for the week.
The broader Topix rose 1.67% to 4,066 but declined 0.95% over the week.
Investors remain cautious ahead of corporate earnings and next month’s US midterm elections, while assessing the outlook for AI-related investments and potential changes in US policy.
South Korea: The KOSPI rose 2.05% to 5,668.05 on Friday, ending a seven-session losing streak as bargain hunting lifted stocks from a six-month low.
Despite the rebound, the KOSPI plunged 14.5% for the week, marking its third consecutive weekly decline and the steepest weekly fall since October 2008.
Thursday’s nearly 8% crash followed a sell-off in technology stocks triggered by higher-than-expected US inflation data and concerns over the sustainability of AI investment.
Japan: The Nikkei 225 gained 1.39% to 65,324.29, ending a six-session losing streak as AI-related stocks recovered. However, the index fell 5.37% for the week.
The broader Topix rose 1.67% to 4,066 but declined 0.95% over the week.
Investors remain cautious ahead of corporate earnings and next month’s US midterm elections, while assessing the outlook for AI-related investments and potential changes in US policy.