AI IPO wealth seen bolstering luxury industry hurt by Iran war
Newly minted tech fortunes in America and South Korea could revive a sector reeling from regional conflict, though aspirational shoppers remain stubbornly absent.
An electronic display shows the benchmark KOSPI index closing at 9,063.84 inside the Korea Exchange (KRX) in Seoul, South Korea, on June 18, 2026. The index finished above the 9,000-point mark for the first time in history, driven by strong foreign buying and gains in semiconductor shares including SK Hynix and Samsung Electronics. Image: Getty Images
An electronic display shows the benchmark KOSPI index closing at 9,063.84 inside the Korea Exchange (KRX) in Seoul, South Korea, on June 18, 2026. The index finished above the 9,000-point mark for the first time in history, driven by strong foreign buying and gains in semiconductor shares including SK Hynix and Samsung Electronics. Image: Getty Images
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