South Korea’s Kospi Jumps 3.7% as AI Stocks Rebound

South Korea’s Kospi jumped 3.7% on Wednesday, rebounding from a steep fall the day before. Strong earnings from SpaceX and Super Micro Computer revived interest in AI-related shares. The rally lifted markets across Asia and helped set a firmer tone for Indian stocks, though higher oil prices remain a risk. The gains show how quickly confidence can return when big technology companies deliver^1,3.

The 3.7% rise followed results that gave investors fresh reasons to buy. SpaceX reported $4.4 billion in quarterly net income, more than twice the average analyst estimate. Super Micro Computer said its revenue outlook was better than expected. Their shares rose in after-hours trading, and US stock futures climbed. Chipmakers SK Hynix and Samsung Electronics gained at least 5% as investors focused on demand for the equipment and computing power behind AI^2,6.

Those chip gains matter beyond South Korea. The Sensex and Nifty 50, India’s main stock indexes, were expected to open higher after Asian markets rallied, but the gains may not last. Brent crude traded near $109 to $110 a barrel amid concerns that conflict could disrupt supplies. That puts pressure on an oil-importing country like India. Investors are also asking whether AI companies can earn enough to justify spending on data centers and other infrastructure. Some remain wary: investor Ken Griffin said the market is almost certainly in an AI bubble^1,5.

That question now turns to Wednesday’s results from Meta Platforms and Tesla. Strong reports could extend the rebound, while weaker results could shift attention back to AI spending and financing worries. Indian investors also have the September-quarter earnings season to assess, while oil prices and political risks remain in view. The next clear market signal will come from the companies’ earnings and guidance later Wednesday^1,2.