AI boom drives a rally in buying of tech shares, pushing South Korea’s Kospi to a record

TOKYO (AP) — South Korea’s Kospi soared nearly 7% to a fresh record on Wednesday as Samsung Electronics’ stock jumped nearly 13% in a rally driven by expectations of strong growth in artificial intelligence and hopes for progress in ending the U.S.-Iran war.

Shares in SK Hynix, another major Korean computer chipmaker, shot up 10% early Wednesday. Both Samsung and SK Hynix are major manufacturers of the computer chips vital for AI applications.

News that Iranian officials were traveling...