South Korean stock market continues to rise, Samsung and SK Hynix are gaining strength.

The South Korean Kospi index rose by 3.1% at one point, marking its second consecutive day of increases, driven by the strong performance of chip manufacturers Samsung and SK Hynix. SK Inc. surged by 15% and Samsung rose by 3%, after both companies announced plans to cancel a total of $14.1 billion worth of treasury stocks. Oracle's strong performance and promising prospects in artificial intelligence also boosted market sentiment. The small-cap Kosdaq index rose by 2.2% at one point. On Wednesday, the South Korean stock market outperformed other Asian markets; the MSCI Asia Pacific index rose by 0.9% at one point.