NIKKEI STOCK AVERAGE CLOSES 2.0% LOWER AT 61409.29, DRAGGED BY CHIP-RELATED STOCKS

FORD SHARES CLIMB 10%, BRINGING TWO-DAY GAIN TO 25%

South Korea’s Kospi Index briefly surpassed the 8,000 level for the first time on Friday, just seven trading sessions after crossing 7,000, highlighting the rapid pace of the market’s AI-driven rally. The benchmark has nearly tripled over the past year, led by chipmakers Samsung Electronics and SK Hynix, which have benefited from booming global demand for AI memory chips and infrastructure spending. Despite the surge, foreign investors have been net sellers every day this week, reflecting growing concerns over whether corporate earnings and AI-related capital spending can sustain current valuations. Still, bullish sentiment persists as the Kospi trades at 8.6 times forward earnings, well below the S&P 500’s 21.2 times.