Korean Stocks Erase War Loss as Chipmakers Rise on AI Resurgence

South Korean stocks have erased the slide triggered by the Iran war, driven by a rally in chipmakers as the artificial intelligence trade swings back into investor focus.

The Kospi climbed as much as 1.2% Monday to more than 6,200, with memory firms Samsung Electronics Co. and SK Hynix Inc. the biggest boosts. The benchmark is up nearly 50% this year, making it one of the world’s best-performing equity markets.