On November 2, strong export data fueled dip-buying sentiment in the market, helping South Korean stocks recover early losses and turn positive. The KOSPI index rose more than 1% during intraday trading, after South Korean stocks had earlier tracked Wall Street lower on concerns over massive spending by AI companies, falling nearly 2% in early trading. Han Ji-young, an analyst at Kiwoom Securities, said the stock market has re-entered oversold territory, but fundamentals remain solid and earnings expectations are improving, with October exports exceeding expectations raising the possibility of upward revisions to earnings consensus. Driven by strong global AI investment demand that boosted chip shipments, South Korea's October exports nearly doubled, recording the largest increase in more than 50 years. However, a survey showed that South Korea's manufacturing activity growth slowed to an eight-month low in October, as output and demand weakened. South Korean President Lee Jae-myung pledged bold investment in AI to enhance the economy's growth potential.