Japanese and South Korean tech stocks rebound across the board! Is AI money coming back?

A clear shift has emerged in Asian markets over the past two days: tech stocks have once again become the focus of capital.
On September 4, South Korea’s KOSPI rose 1.64%, Japan’s Nikkei 225 gained 1.26%, and SoftBank rebounded sharply. The market had previously cooled rapidly under the influence of rising U.S. Treasury yields, geopolitical risks, and expectations of interest rate hikes. Now, as concerns over further Federal Reserve rate hikes have eased, capital has once again begun seeking out growth assets.
The AI industry chain remains the area most worth watching.
South Korea is home to memory chip giants such as Samsung Electronics and SK hynix, while Japan has AI-related assets including SoftBank and Tokyo Electron. As long as global investment in AI computing power continues to expand, Asian tech stocks may continue to attract capital.
But a problem has also emerged: valuations are no longer low, and the market’s expectations for future AI growth are similarly high.
Therefore, the market may gradually shift from “telling stories” to “looking at earnings.”
If AI demand continues to materialize, Japanese and South Korean tech stocks may still have room to rise; if capital expenditures slow, stocks that have gained significantly in the earlier phase could once again experience sharp volatility.
So, regarding this rebound, I won’t rush to call it the second wave of a bull market.
Let’s first see whether the capital can stay, and then decide how big a story can be told.#日韩股市走强软银涨近6%