EMERGING MARKETS-S.Korean stocks, won lead Asian gains as AI trade rebounds

South Korean stocks and the won led gains across Asian markets on Tuesday, as investors returned to AI-linked trades after a rally in US chipmakers and tech stocks, while Indonesian stocks and the rupiah fell a day ahead of a central bank rate decision.

South Korea's KOSPI index .KS11 gained as much as 2.3% to its highest since September 8, while the won KRW= appreciated as much as 1.6% to a one-week high.

"Korea's September chip exports tripling is a clear sign demand is still strong despite everything that's happening," said Zavier Wong, a market analyst at eToro.

"Investors are simply buying the markets that invoice for it. Korea is also still well below its June high, while Taiwan is back at its own record, and Korean valuations have lagged the earnings, which leaves Seoul with more room if this holds."