South Korean Stocks Surge on Semiconductor Buyback
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South Korean stocks surged, with the KOSPI index jumping 15% to 2,486.54, its highest level since 2007. SK Hynix, a major semiconductor manufacturer, led the rally, gaining 24% after announcing a share buyback program. The surge in stocks comes amid revived confidence in the AI trade and improved sentiment towards SK Hynix following a significant share purchase by the company's chair, Chey Tae-won.
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