Japan’s Topix hits a record high while Korea’s Kospi jumps 2.5 percent as foreign investors pile into AI-linked chip stocks.
Asian equities rallied sharply, led by semiconductor strength and upbeat earnings expectations. Japan’s Topix extended its winning streak to a seventh session, closing at a fresh record, while Korea’s Kospi posted its strongest single-day gain in months, rising 2.5 percent by midday trade.
The gains were driven by foreign buying in Korean chipmakers like Samsung Electronics and SK Hynix, reflecting institutional conviction in AI infrastructure. In Japan, the rally broadened beyond momentum stocks into value and growth sectors, signaling confidence in the earnings outlook. Overnight gains in the U.S. semiconductor index (SOX) and benign inflation data further supported sentiment.
Market observers noted the foreign-led buying in Korea contrasted with local retail selling, a pattern often seen ahead of sustained institutional rallies. However, the scale of the Kospi’s move raised questions about near-term profit-taking risks.