It was another dizzying day for Asia’s technology shares.
A day after falling 10 percent, South Korea’s benchmark KOSPI rebounded on Wednesday in a volatile trading session. The index surged as much as 4 percent in morning trading before a sharp sell-off briefly drove it down 2 percent. By late afternoon, it had clawed its way back to a gain of nearly 3 percent.
South Korea’s stock market, the world’s best performer since the start of last year, triggered a global sell-off in technology shares when the KOSPI nosedived on Tuesday. The rout reflected growing investor unease over whether the rally fueled by enthusiasm for artificial intelligence had run too far, too fast.
Futures on the S&P 500 rose 0.2 percent, pointing to a modest increase when stocks resume trading in the United States on Wednesday.
In Asia, no markets are more exposed to the A.I. boom than South Korea and Taiwan, where a trio of semiconductor companies exerts an outsized influence over broader stock indexes.
In South Korea, the rebound was led by Samsung Electronics and SK Hynix, the country’s two chip giants. Samsung jumped 8 percent, while SK Hynix gained 1 percent.
Taiwan moved in the opposite direction. The benchmark index fell more than 2 percent as shares of Taiwan Semiconductor Manufacturing Company — the world’s largest contract chip manufacturer — slid 4 percent.
