Asian stocks rose on Thursday, driven by robust gains in Japan and South Korea, as technology stocks soared on the back of favorable earnings reports from major US semiconductor companies. The upbeat mood among investors followed optimistic forecasts from Qualcomm and Micron Technology, which fueled a surge in demand for semiconductor shares throughout the region.
Qualcomm’s stock price climbed after the company revised its annual revenue projection upwards and unveiled a new data center chip, while Micron’s shares also advanced, having surpassed market expectations. In Japan, the Nikkei 225 saw a significant rise, bolstered by increases in chip-related stocks. Meanwhile, South Korea’s Kospi reached a new peak, buoyed by strong performances from leading tech giants like Samsung Electronics and SK Hynix.
Elsewhere in Asia, market responses were mixed. India, Taiwan, and China experienced modest gains, while markets in Hong Kong and Australia saw declines. This positive regional trend unfolded against the backdrop of a mixed session on Wall Street, where losses in some major tech companies exerted downward pressure on US indices.
In the commodities sector, oil prices edged lower as investors monitored ongoing US-Iran negotiations aimed at resolving their conflict. Brent crude prices moved closer to pre-war levels, impacting energy firms such as Exxon Mobil and Chevron.
Market participants are also keeping a keen eye on upcoming US inflation data, which is under close scrutiny by the Federal Reserve as it deliberates future interest rate policies. Economists anticipate the Personal Consumption Expenditures index will indicate continued inflationary pressures.