The Kospi soared 6.1 per cent to 6,858.91 after dipping 5.8 per cent on Wednesday on renewed selling of shares related to artificial intelligence

Asian stocks advanced Thursday, while South Korea’s benchmark Kospi jumped more than 6 per cent.

The Kospi soared 6.1 per cent to 6,858.91 after dipping 5.8 per cent on Wednesday on renewed selling of shares related to artificial intelligence.

Samsung Electronics climbed 9.7 per cent, while memory chipmaker SK Hynix soared 14.1 per cent after the company announced a significant share buyback plan.

Nikkei 225 added 1.3 per cent to 66,178.26, reversing declines earlier in the week. Japan reported it logged a trade deficit for a third straight month in July, as both imports and exports hit record highs.

Shares of SoftBank Group, Japanese multinational investment holding firm, rose 3.8 per cent.

Hang Seng added 1.1 per cent to 25,786.32, while the Shanghai Composite index gained 0.3 per cent to 3,905.23.

S&P/ASX 200 was up 0.3 per cent to 9,066.40.

Taiex was nearly unchanged and Sensex jumped 0.7 per cent.

Bond yields also eased in Asia. Japan’s 10-year government bond yield dropped to nearly 2.83 per cent from more than 2.89 per cent on Wednesday. It had been trading near 30-year highs.

Elsewhere, yields on US government bonds fell after the Treasury Department’s announcement on its expanded plans in government debt buybacks. Bond yields fall when bond prices rise in an inverse relation.

Oil prices gained slightly early Thursday as there was little progress made in Iran-US negotiations over the war. Brent crude, the international standard, added 0.3 per cent to $91.90 a barrel. It was trading at nearly $72 per barrel before the war.