Asian equities mostly rose, supported by gains in technology stocks. South Korea's KOSPI rose as high as 7,171.44, while interest in AI-related demand increased amid the buzz surrounding Muse.
Asian equities mostly rose, led by gains in technology stocks. Japan's market is closed for the current session, while expectations of a US Federal Reserve rate hike and a stronger dollar are drawing investors' attention.
South Korea's KOSPI rose as high as 7,171.44 before closing at 7,017.91. Gains narrowed at times as retail and institutional investors sold to lock in profits.
Against the backdrop of rising technology stocks, Meta Platforms' AI assistant Muse reaching the top of the US App Store was seen as stimulating demand and improving investor sentiment toward the AI semiconductor value chain.
In China's markets, Alibaba announced plans for AI chips and data centers, sending AI-related stocks sharply higher. US interest rate developments and oil prices also influenced the direction of Asian markets.
In domestic markets, the VN-Index rose 0.96% to 1,816.93, while the HNX-Index gained 0.93% to 276.93. The latest forecast for the probability of a US rate hike puts the October figure at 56%.