Concerns over AI overinvestment that had previously unsettled the market eased significantly, driven by strong earnings reports from major tech companies. Boosted by recovering investor sentiment, Wall Street rallied across the board, led by technology shares.
Strong earnings announcements from AI tech stocks, led by SpaceX turning profitable and Super Micro Computer raising its revenue guidance
Meta and Tesla posting third-quarter earnings that beat market expectations
U.S. Treasury Secretary dismissing AI bubble concerns and highlighting its contribution to economic productivity
A New Mexico court ordering a $25 billion penalty on Meta regarding user privacy violations
U.S. Department of State ordering the evacuation of personnel in Saudi Arabia following threats from Houthi rebels
Doubts over the profitability of AI investments and Tesla's announcement of capital expenditure cuts heightened market anxiety regarding future growth prospects. However, stock-specific selective buying is flowing in, supported by individual companies' aggressive share-price support measures, such as treasury stock cancellations and tender offers.
Tesla announced a reduction in its 2026 CAPEX target from $25 billion to $20 billion, spreading concerns over delays in future growth drivers.
Amid concerns over an October peak-out in AI and semiconductors, the KOSPI index rebounded 3.29% from the previous day to record 5,735.66 points.
Meta's board of directors disclosed the creation of non-voting Class C common stock to maintain CEO Mark Zuckerberg's residence at California headquarters and control.
S-1 shares showed strength as the company announced plans to acquire and cancel 450 billion won worth of treasury stock.
Hanwha M&S shares surged sharply following the announcement of a tender offer for shares by the President of Future Strategy.
