South Korean shares rebound as chipmakers recover from AI-driven selloff

South Korean shares rebounded on Monday, with the benchmark KOSPI rising more than 1.5% as semiconductor stocks recovered from last week’s sharp losses. Investors also shrugged off concerns surrounding Nvidia after assurances that issues affecting the US chipmaker would not disrupt South Korea’s contracted supplies of graphics processing units (GPUs), Reuters reported.

KOSPI gained 79.58 points, or 1.57%, to 5,139.27 as of 0146 GMT. The index had plunged 6% on Friday to close at its lowest level since March 31.