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Asian AI stocks rise as investors buy back chip shares
Asian tech stocks rose on June 9 after Wall Street rebounded and investors returned to AI-related shares. SK hynix gained 6.44%, while Samsung Electronics rose 3.38%, and Seoul Semiconductor jumped more than 12%.
In Japan, semiconductor equipment maker Tokyo Electron climbed 5.65%, chip testing company Advantest gained 1.51%, and Renesas Electronics added 2.54%.
SoftBank Group, the Japanese technology investment firm, fell 2%.
The gains followed a rebound in US chip stocks on June 8.
Investors returned after Nvidia chief executive Jensen Huang said the pullback was a buying opportunity.
The South Korean gains also reflected AI exposure. Both Samsung and SK hynix have pointed to strong demand for AI-related memory products.
🔗 Source: CNBC
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