STOCKS | Japan, South Korea Shares Hit Record Highs on AI-Linked Chip Rally

Japanese and South Korean shares hit record highs on Friday as investors bought AI-related stocks after a sharp rally in U.S. semiconductor shares. In Tokyo, the Nikkei hit a record high after opening up 497 points, or 0.7%, at 71,551, according to RTHK, and later trimmed gains to 71,219, up 0.23%, after touching 71,952 earlier in the session; Topix was down 0.24% at 4,058. The Philadelphia semiconductor index rose 6.4% overnight, with Intel jumping 10.6% to a record close, after U.S. President Donald Trump said Apple agreed to work with Intel to design and manufacture its chips in the United States; Intel supplier Ibiden rose as much as 5% and was last up 1.11%. In Seoul, the Kospi opened up 225 points, or 2.48%, at 9,288 to cross 9,000 for the first time and extend gains for a sixth straight session, and was up 200 points, or 2.21%, at 9,264 before midday; SK Hynix and Samsung Electronics rose 6.5% and 4.6%, respectively, after sentiment improved following a peace deal signed by the presidents of the United States and Iran.