Asia Tech Stocks Recover, OpenAI IPO Looms, China Trade Surplus $105B
South Korea's Kospi and Japan's Nikkei rebounded on tech gains, while China's trade surplus returned to $105 billion. OpenAI also reportedly enters the IPO queue.
Asian equity markets staged a recovery on Thursday after sharp losses earlier in the week. South Korea's Kospi index regained most of its 8% decline from the previous session, led by semiconductor heavyweights Samsung and SK Hynix following an overnight rebound in US chip stocks.
In Japan, chip-related shares also bounced back, helping the Nikkei index recover part of its losses. Meanwhile, China reported a trade surplus of $105 billion, returning to the $100 billion-plus level.
Separately, OpenAI is reportedly joining the queue for a mega initial public offering, though details of the listing are not yet fully disclosed.
Source: FXStreet Forex News