South Korean stocks rise following chip decline

South Korean shares surged, with the Kospi index rising nearly 17%, driven by a rebound in chip stocks such as SK Hynix and Samsung Electronics. The rally follows a recent three-day decline and was supported by positive earnings updates from US tech giants Amazon and Microsoft, along with measures by South Korean regulators to curb market volatility. Despite recent sharp fluctuations, the index remains 50% higher than the previous year due to strong growth earlier in 2023.

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