Asian stock markets experienced gains on Thursday, driven by strong performances in Japan and South Korea. The surge was fueled by technology shares, which rose following upbeat earnings reports from major US chip companies.
Investor sentiment was bolstered after Qualcomm and Micron Technology enhanced their financial outlooks, leading to increased demand for semiconductor stocks throughout the region. Qualcomm’s stock saw a significant boost after the company revised its annual revenue forecast upward and unveiled a new data center chip. Similarly, Micron’s shares climbed following their financial results, which surpassed market expectations.
Japan’s Nikkei 225 index saw a notable rise, supported by advances in chip-related companies. Meanwhile, South Korea’s Kospi index reached a record high, buoyed by the performance of major technology firms like Samsung Electronics and SK Hynix.
Other Asian markets presented a mixed picture, with modest gains recorded in India, Taiwan, and China. In contrast, Hong Kong and Australia experienced declines. This regional trend followed a mixed session on Wall Street, where losses in some key technology companies had a dampening effect on US indexes.
In the commodities market, oil prices declined as investors monitored US-Iran talks concerning a potential resolution to their ongoing conflict. Brent crude prices edged closer to levels observed prior to the conflict, impacting energy giants such as Exxon Mobil and Chevron. Meanwhile, market participants are also turning their attention to upcoming US inflation data, with the Federal Reserve keeping a close eye on price trends as it weighs future interest-rate decisions. Economists anticipate the Personal Consumption Expenditures index to reveal persistent inflationary pressures.