MARKETS: Asian markets on the rise – AI stocks storm back

Asian markets saw a rise during the night. South Korea’s Kospi index was up 7.6 percent at the time of the review.

Artificial intelligence stocks picked up steam on Tuesday after Monday’s drop. A South Korean semiconductor company SK Hynix was up 12.2 percent. A Japanese semiconductor company Tokyo Electron was up 10 percent.

The more favorable pricing on the down days seemed to attract investors to AI stocks. For example, focused on memory chips Micron Technology rose nearly 10 percent on Wall Street Monday.

“The correction movement was inevitable and ultimately healthy if the bull market is to continue until the end of the year”, Morgan Stanley chief equity strategist Mike Wilson commented to Bloomberg.

Japan’s Nikkei index was up 2.1 percent and Taiwan’s Taiex index was up 2.8 percent. In Hong Kong, the Hang Seng index was down 0.2 percent.

Brent and WTI crude oil futures prices were down considerably. Iran and Israel announced on Monday that they had suspended attacks against each other.

The MSCI All Country World index, which describes the global stock market, was up 0.4 percent.

In the foreign exchange market, the yen and the dollar were in decline compared to most reference currencies.

One euro equals 1.1543 dollars. The dollar gave 160.20 yen.

The Euro Stoxx 600 future was down 0.1 percent. US Index futures were rising.