Technology stocks jumped across Asian markets on Monday, as investors kept betting that the AI boom will continue to boost demand for chips and memory products.
South Korea’s Kospi index, which is heavy on tech stocks, finished much higher. Memory chipmakers Samsung Electronics and SK Hynix led the way with strong gains.
Tokyo’s Nikkei 225 also went up, and mainland China’s CSI 300 index saw a small rise. In contrast, Hong Kong’s Hang Seng slipped a bit.
The rally may have been helped by a U.S. jobs report for August that came in stronger than expected on Friday, showing hiring was much higher than economists predicted. European markets did not follow this trend, as the Stoxx 600 index slipped a bit in early Monday trading.
Germany’s Dax fell slightly after the right-wing Alternative for Germany party won a regional election in Saxony-Anhalt. The U.K.’s FTSE 100 and France’s CAC 40 had trouble finding clear direction.
U.S. stock and bond markets were closed on Monday for the Labor Day holiday.
