IT Home Reported on October 27: according to a Business Insider report today, the South Korean stock market has seen sharp swings recently as the global AI trade affects investor sentiment. Goldman Sachs said AI has become a powerful force in financial markets, withsemiconductor stocks now exerting more influence over the price movements of various asset classes than oil prices.。
Goldman Sachs research shows that over the past three weeks, divergences in the semiconductor sector's performance could explain about 54% of the performance dispersion across asset classes, while oil prices could only explain 2%. Investor sentiment has become closely tied to tech stocks, and this correlation has continued to strengthen in recent years. Recently, Goldman Sachs' gauge of market risk appetite has moved almost in sync with the relative performance of large-cap tech stocks.
However, strategists noted that investor sentiment has not yet fallen to levels that have historically presented buying opportunities. The latest round of market volatility occurred yesterday: after Anthropic submitted its IPO application, enthusiasm for AI-related stocks was boosted, with the Nasdaq and the S&P 500 each rising about 1%, Nvidia shares up 2%, and the Philadelphia Semiconductor Index up about 3%.
On Tuesday, the rally spread to Asian markets. South Korea's Composite Stock Price Index (IT Home note: KOSPI) rose as much as 5% intraday, Samsung Electronics shares at one point gained 6%, and SK Hynix shares rose 8%.
Notably, the Korean stock market is particularly susceptible to the AI trade, as memory chip stocks account for roughly half of the KOSPI index's weight. The benchmark index is down about 40% from its June (6月) high, erasing some of this year's gains. Previously, the index had at one point more than doubled this year.