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South Korean Tech Giants Surge Ahead, Boosting Asian Markets
2 Oct
Summary
- South Korea's Kospi index surged over 2% driven by Samsung and SK Hynix
- Samsung and SK Hynix stocks gained over 4% and 10% respectively
- Partnership with OpenAI on memory chips for Stargate data centers
On Thursday, October 2nd, 2025, Asian markets opened mostly in the green, with South Korea's Kospi index leading the charge. The Kospi surged more than 2% on the back of strong gains in two of the country's tech giants, Samsung Electronics and SK Hynix.
Samsung Electronics' stock price advanced over 4%, while SK Hynix saw an even more impressive 10% jump. This surge in share prices was driven by the companies' announcement of a new partnership with OpenAI, the artificial intelligence research company. Under the agreement, Samsung and SK Hynix will provide memory chips to power OpenAI's Stargate data centers.
The positive news from the South Korean tech sector had a ripple effect across the region. Japan's Nikkei 225 benchmark gained 1.04%, while the Topix index remained unchanged. Australia's S&P/ASX 200 also opened 0.61% higher. However, markets in China and India were closed for holidays on the day.
Investors in the United States also reacted positively to the developments in Asia, with all three major U.S. indexes - the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite - moving into positive territory. The healthcare sector emerged as the top performer, buoyed by gains in pharmaceutical stocks.
