AI continues to dominate headlines! On October 29, Japanese stocks rallied sharply, with the Nikkei 225 index surging over 1,000 points intraday, up more than 2%. Advantest soared over 20% to a record high, nearing a market cap of ¥17 trillion. SoftBank Group climbed over 5%, also hitting an all-time peak. Earlier, OpenAI and Microsoft restructured their partnership, paving the way for a potential IPO.

In South Korea, SK Hynix jumped 7%, reaching a historic high, fueled by its Q3 operating profit surpassing ₩10 trillion for the first time. Strong demand for AI server components and rising DRAM and NAND flash prices drove growth.

U.S. President Donald Trump announced on October 29 that Washington and Seoul are "very close" to finalizing a new trade deal. He emphasized South Korea’s role as a key economic and security partner and urged greater investment in U.S. industries during his APEC summit speech. The Korean won rose 0.5% against the dollar as reports confirmed a bilateral agreement to cut U.S. auto tariffs to 15%.

**Japanese Stocks Rally** The Nikkei 225 closed up 2.17%, gaining over 1,000 points to a fresh record. Chip stocks led gains, with Advantest soaring 22% after raising its FY2026 operating profit forecast by 25% to ¥374 billion, citing AI-driven demand for testing equipment. SoftBank Group rose nearly 4% following Microsoft and OpenAI’s restructuring deal, which could unlock funding for AI data centers. Reports also revealed SoftBank’s board approved an additional $22.5 billion investment in OpenAI, part of a planned $30 billion commitment. OpenAI’s valuation has surged to $500 billion from $300 billion in March, positioning SoftBank for significant gains post-IPO.

Analysts noted OpenAI’s restructuring as part of its bet on generative AI transforming the global economy. NVIDIA CEO Jensen Huang, asked about the news, remarked, "I wouldn’t be surprised if OpenAI goes public next year—it could be one of history’s most successful IPOs."

**U.S. and Korean Markets Hit Records** U.S. indices closed at all-time highs, with NVIDIA surging nearly 5%, adding $231.8 billion in market cap ($1.64 trillion CNY). Its total valuation now exceeds $4.88 trillion, nearing $5 trillion. Huang disclosed $500 billion in AI chip orders and a U.S. Energy Department deal to build seven supercomputers.

South Korea’s KOSPI rose 1.76% to 4,084, a new peak. SK Hynix gained 7.1% after reporting Q3 operating profit up 62% to ₩11.38 trillion, with revenue jumping 39% to ₩24.44 trillion. The firm attributed growth to AI server demand and memory price hikes, noting full order books for 2026. Hyundai Motor Securities’ Greg Roh highlighted sustained HBM demand from hyperscalers and projects like OpenAI’s "Stargate," alongside rising enterprise SSD sales.

Huang, visiting South Korea, hinted at upcoming announcements with local firms like Samsung, SK, Hyundai, LG, and Naver, calling them "great partners."