South Korean Shares Rebound on Tech Gains

The benchmark KOSPI jumped more than 2% to around 5,475 on Friday, rebounding from the previous session’s losses as strong gains in technology stocks lifted investor sentiment. Index heavyweights Samsung Electronics (2.64%) and SK Hynix (2.79%) led the advance, with Samsung gaining amid reports that it was in talks to acquire US-listed Modine Manufacturing, a data center cooling systems provider, potentially expanding its presence in the AI infrastructure market. Other major gainers included Shinhan Financial (5.41%), KB Financial (3.89%), and Hyundai Motor (2.93%). The gains came despite overnight losses on Wall Street, where the Dow Jones, S&P 500, and Nasdaq fell 0.36%, 0.35%, and 0.39%, respectively. Meanwhile, Nvidia CEO Jensen Huang’s reported departure and the appointment of CFO Colette Kress as interim CEO raised questions about the future of the global AI ecosystem.