Kospi's 31% Monthly Surge Fueled by AI Chips, Asia Mixed on Oil Rally
TL;DR Summary
South Korea’s Kospi surged about 31% this month—the strongest monthly gain since January 1998—led by AI-driven gains in chipmakers SK Hynix and Samsung Electronics, though the index fell 1.38% on the day as oil prices jumped on fears of U.S. action against Iran. Across Asia, Nikkei 225 and Hang Seng slipped while broader markets paused amid persistent oil strength; Brent near $122 a barrel and WTI around $108 as investors weigh possible U.S. military steps against Iran, with U.S. futures mixed after a variable session.
- Asia-Pacific markets mostly fall as oil climbs on Iran tensions, Fed holds rates CNBC
- Oil Prices Soar as Iran Standoff Shows No End in Sight The New York Times
- Brent Jumps to $126, Stocks Pare Tech-Led Optimism: Markets Wrap Bloomberg.com
- Brent jumps to four-year high on concerns of US-Iran war escalation Reuters
- Current price of oil as of April 29, 2026 Fortune
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