BENGALURU: Equities in Taiwan and South Korea scaled record highs on Tuesday, driven by flows in AI companies, while stocks in the Philippines wavered and the peso slipped after Fitch cut its outlook for the country to “negative” due to growth risks.
Stocks in emerging Asia jumped 1.3 percent to a near eight-week high, driven by two major index constituents.
South Korean equities hit a record high for the first time since the Iran war began, while those in Taiwan reached an all-time peak. Both were up more than 2 percent.
In South Korea, chipmaker SK Hynix climbed as much as 5.2 percent to an all-time high, while rival Samsung Electronics rose as much as 2.6 percent, leading index gains on robust export data and optimism ahead of corporate earnings.
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