BANGKOK (AP) — Shares rallied in Asia on Friday after the Dow Jones Industrial Average set another record, as some key AI related stocks rose while others extended losses. U.S. futures were moderately higher and oil prices also rose. South Korea’s Kospi, which sank nearly 8% on Thursday, recovered some of those losses, gaining 2.8% to 7,863.22. Samsung Electronics, the country’s biggest company and a major maker of computer chips, gained 7%. Smaller rival SK Hynix was up 4.9%.In Tokyo, the Nikkei 225 advanced 0.9% to 69,368.30. Chipmaker Tokyo Electron slipped 2.5%, while memory maker Kioxia jumped 6.6%.Hong Kong’s Hang Seng climbed 1.7% to 23,444.45 and the Shanghai Composite index added 0.7% to 4,056.81. Taiwan’s Taiex fell 0.6%.In Australia, the S&P/ASX 200 picked up 1.3% to 8,834.90. U.S. markets will be closed Friday for the Independence Day holiday.
On Thursday, most U.S. stocks rose as the Dow snagged another record, gaining 1.1% to 52,900.07.But more drops for computer chip companies and other winners of the artificial-intelligence boom kept indexes mixed. The S&P 500 finished the day virtually unchanged and edged up by less than 0.1%, even though seven out of every 10 stocks within the index rose. It closed at 7,483.24.
