Atlantide Phototravel | Corbis Documentary | Getty Images
SK Hynix’s stock jumped on Friday after announcing the completion of development of the HBM4, the latest generation of high-bandwidth memory, considered essential for artificial intelligence applications.
Its shares rose above 7%, reaching its ninth day rally at 9:40pm since 2000 and at its highest since 9.40pm on Thursday.
Stocks Alibaba and Baidu The listings in Hong Kong were over 6% and 10% respectively, after the two companies deployed their own in-house chips and began training artificial intelligence models.
Alibaba reportedly has been using chips for smaller AI models since the beginning of this year, but Baidu has been testing the Kunlun P800 chip to train a new version of the Ernie AI model, partially replacing what both companies have created. nvidia In the process.
Elsewhere in Asia, the market was trading higher, tracking the increase in Wall Street overnight.
Japanese benchmark Nikkei 225 After scoring a new record on Thursday, it went up 0.89% to 44,768.12 to close 44,768.12, but Topix closed 0.4% at 3,160.49. South Korea Kospi It rose 1.54% to close the trading day at 3,395.54, and the small Kosdaq jumped to 1.48% to 847.08.
Australian benchmark S&P/ASX 200 closed with an additional 0.68% at 8,864.9.
Hong Kong’s Hangsen index rose 1.14%, while mainland CSI 300 slid 0.57% to close at 4,522.00.
India’s Nifty 50 has added 0.43%.
Stocks in several regions of the world are rallying to raise investors’ sentiment to ease inflationary pressures and expectations for US interest rate cuts.
“Momentum and easier money promises are the main reasons. Various central banks, such as the ECB and PBOC, are cutting interest rates or using financial stimuli. Now the Fed could join the party.”
All three major averages were closed in the overnight state. This is because traders expected the latest readings on key consumer inflation gauges to be out of the way to cut benchmark interest rates next week.
Dow Jones Industrial Average finished at 46,108.00 with 617.08 points (1.36%), while the S&P 500 reached 0.85% at 6,587.47. NASDAQ Composite has advanced to 0.72% to 22,043.07. All three major averages were closed at record levels, marking new daily history highs on trading day.
According to the Bureau of Labor Statistics, CPI measurements showed an increase of 0.4% that month.
CNBC’s Sean Conlon and Alex Hurling contributed to this report.
