Asian Markets Close Morning Higher, Led by South Korea's Record High on Chip Stock Buying

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Asian stock markets mostly rose in morning trade today, led by South Korea where the KOSPI index surged 13.8 percent to a record high as investors snapped up chip stocks like SK hynix and Samsung following a rally in the sector on Wall Street. Strong earnings from Amazon and Microsoft also supported a positive outlook on artificial intelligence spending. Japan's Nikkei index closed the morning up 4.37 percent at 64,572.25 points, while the Shanghai Composite Index gained 0.76 percent to 3,833.65 points. Hong Kong's Hang Seng Index fell 0.11 percent to close at 25,830.58 points, and Australia's S&P/ASX 200 added 0.2 percent. The Bank of Japan kept its policy interest rate unchanged at 1 percent as expected, while China reported its July manufacturing PMI fell to 49.2, the lowest since February and indicating contraction for the first time in several months.