Asian stock markets soared on Friday as tech shares rebounded from days of heavy selling and the yen jumped following an apparent currency intervention before coming back under pressure.
South Korea’s Kospi, which had tumbled 17 per cent over the previous three sessions on concerns about the durability of the AI boom, ended the day almost 18 per cent higher for a weekly drop of just 3 per cent.
The gains were driven by chipmakers SK Hynix, which soared by 30 per cent to end the week down just 5.3 per cent, while rival Samsung Electronics rose almost 27 per cent to be 2 per cent higher for the week.
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