South Korea's stock market staged its sharpest reversal on record on Friday, capping a month of wild swings. The Kospi index jumped more than 16%, tracking gains on Wall Street.
The rally follows a sharp sell-off and a three-day rout that wiped hundreds of billions of dollars off the value of the country's stock market earlier this week.
The rebound was driven by a surge in chipmaking and artificial intelligence-related stocks. Optimism in the AI trade was refueled as concerns regarding overspending eased and major technology firms outlined spending plans.