Chip stocks bounce back as AI rally resumes; CMA launches inquiry into Paramount-Warner Bros deal – business live

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For the second day running, circuit breakers have been triggered on the Seoul stock exchange. But this time, it’s because the market is rising unusually quickly, rather than tumbling like it did on Monday.

Shares in South Korea’s chip giants are surging today, as investors pile back into the market after yesterday’s sell-off.

This rally is boosting optimism that the recent drop in tech shares is a blip, rather than the long-feared AI market crash.

Samsung Electronics’s shares are up over 9% today, while memory chipmaker SK Hynix have surged by 15%.

Those two heavyweight stocks have driven South Korea’s KOSPI up by 8.4% in Tuesday’s session, a day after it tumbled by 8%. Today’s market rally triggered successive temporary suspensions of program buy orders, known as “sidecars” in South Korea.

SK Hynix was boosted by a new multiyear partnership with Nvidia to develop next-generation memory for AI systems, whicch saw Nvidia’s Jensen Huang tour Seoul, meeting tech firms and handing out fried chicken to journalists:

Ipek Ozkardeskaya, senior analyst at Swissquote , points out that the wild swings in the KOSPI are unusual, and worrying.