Nikkei Rises as KOSPI Hits Record on Samsung, SK Hynix–OpenAI Chip Deal

Nikkei Futures Live

Japan’s benchmark Nikkei 225 index increased by 0.87%, concluding the session at 44,936.73. In contrast, the Topix experienced a decline of 0.24%, finishing at 3,087.4. South Korea’s Kospi index experienced a significant increase of nearly 3%, reaching an all-time high, driven by strong performances from major players Samsung Electronics and SK Hynix.

Samsung Electronics and SK Hynix experienced notable increases in their share prices, rising by 3.49% and 9.86%, respectively, following the announcement of their partnership with OpenAI late Wednesday to supply memory chips. In September, South Korea’s consumer price index increased by 2.1% year on year, surpassing the 2% rise anticipated by economists. The most recent data indicates a comparison with the 1.7% growth observed in August. Where as –

  • Australia’s ASX/S&P 200 experienced a notable increase of 1.13%, closing at 8,945.9.
  • The Hang Seng Index in Hong Kong saw an increase of 1.61%, reaching a value of 27,287.12.
  • The Hang Seng Tech index experienced a significant increase of 3.36%, reaching a value of 6,682.86.
  • Kosdaq experienced an increase of 1.05%, concluding the session at 854.25.

The markets in China and India were closed due to holidays. Shares of Zijin Gold surged more than 14% to close at 137.5 Hong Kong dollars, continuing an upward trend for two consecutive days following its trading debut on Tuesday. U.S. equity futures showed minimal movement during early Asian trading hours following the S&P 500’s new peak on Wednesday in the U.S., as market participants anticipated a brief government shutdown. The shutdown is anticipated to extend for a minimum of three days, as the Senate will not be in session on Thursday due to Yom Kippur. However, traders are speculating that the shutdown may persist for almost two weeks.

In the overnight session, the broad market index experienced an increase of 0.34%, concluding at 6,711.20. Previously, it reached a new all-time intraday high. The Nasdaq Composite increased by 0.42%, closing at 22,755.16, whereas the Dow Jones Industrial Average gained 43.21 points, or 0.09%, ending at 46,441.10.