Kospi Climbs 4.6% Toward 7,000; Wall Street Reopens Tuesday
Markets are closed. U.S. exchanges are shut today for Labor Day; the next session opens Tuesday, September 8 at 9:30 a.m. ET (4:30 p.m. in Istanbul). Asia traded through the day, and what came out of it has not been priced on Wall Street yet.
Memory names closed higher in Seoul and Tokyo. The Kospi rose 4.6% to 6,995.40, putting it at the edge of 7,000, and the Nikkei 225 added 2.1% to 66,399.84; the Hang Seng fell 0.8% and the Shanghai Composite edged up 0.1%. The individual moves:
01SK Hynix 8.1%
02Rohm 7.8%
03Samsung Electronics 5.3%
04Tokyo Electron 5.0%
05Renesas Electronics 3.1%
No single company headline drove it. What carried the pricing was HBM and DRAM demand for AI servers, and Stephen Innes said the AI complex continues to be the region's most dependable source of growth. The same trade worked in the U.S. on Friday, when Micron rose 6.1% to $1,016.59, and memory names will have to meet this Asian close at Tuesday's open.
