{"text":[[{"start":8.75,"text":"Asian stock markets staged a sharp rebound on Tuesday, a day after a broad AI sell-off hit the region’s chipmakers."}],[{"start":16.1,"text":"South Korea’s Kospi benchmark jumped 8.2 per cent, Japan’s Nikkei 225 index rose 2.2 per cent and Taiwan’s Taiex closed up 2.8 per cent. The rallies came a day after the tech-heavy indices fell by similar margins."}],[{"start":33.2,"text":"Chipmakers Samsung Electronics and SK Hynix, which make up about 40 per cent of South Korea’s stock market, rose 9 per cent and 15.9 per cent respectively. They had closed down 10.2 per cent and 7.7 per cent on Monday."}],[{"start":48.75,"text":"“The AI trade has continued to bounce back this morning,” said Jim Reid, global head of macro research at Deutsche Bank."}],[{"start":56.15,"text":"Tuesday’s rebound followed a 0.9 per cent rise for the Nasdaq Composite in New York and a 0.3 per cent increase for the broader S&P 500 on Monday. Chipmakers Intel and Micron Technology rose more than 10 per cent."}],[{"start":71.1,"text":"US stocks were set for more gains on Tuesday. Futures tracking the S&P 500 and the Nasdaq Composite were up 0.3 per cent and 0.7 per cent respectively."}],[{"start":82.44999999999999,"text":"Asia’s chipmaker-dominated indices, especially the Kospi, have notched record gains this year as investors bet on an AI-driven boom. The South Korean index has nearly doubled since January, making it one of the world’s best-performing stock markets."}],[{"start":98.35,"text":"Volatility has also increased, with “sidecar” trading curbs having been triggered twelve times already this year. "}],[{"start":105.05,"text":"“The recent increase in Korean market volatility seems to reflect profit-taking after a sharp and concentrated rally in the AI and memory sectors rather than a fundamental change in the investment case,” said Chan H. Lee, managing partner of Petra Capital Management. “This can create opportunities in undervalued companies.”"}],[{"start":125.69999999999999,"text":"Lee added that the rebound was “expected after overselling yesterday”."}],[{"start":130.39999999999998,"text":"“With Samsung Electronics and SK Hynix accounting for such a large share of the index, Micron’s rise of nearly 10 per cent overnight naturally impacted both stocks and, by extension, the Kospi,” said Lee."}],[{"start":143.39999999999998,"text":"Mandy Xu, head of derivatives market research at Cboe, wrote that last week’s tech sell-off was “mostly a positioning-driven unwind at the sector level” after the strong rally, “rather than a much broader macro sell-off”."}],[{"start":163,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1780991522_9689.mp3"}