Asian stock markets saw a rise on Thursday, mainly driven by strong performances in Japan and South Korea, as technology shares surged. This positive movement came after major US chip companies, Qualcomm and Micron Technology, issued encouraging earnings updates that boosted investor confidence in semiconductor stocks across the region.
Qualcomm’s shares rose significantly after the company increased its annual revenue forecast and introduced a new data center chip. Similarly, Micron Technology’s stock climbed as it exceeded market expectations. In Japan, the Nikkei 225 saw substantial gains, supported by advancements in chip-related companies. Meanwhile, South Korea’s Kospi reached a record high, with major technology firms like Samsung Electronics and SK Hynix making notable progress.
The performance across other Asian markets was varied, with India, Taiwan, and China experiencing smaller gains, while Hong Kong and Australia saw declines. These developments followed a mixed session on Wall Street, where losses among some major technology companies put pressure on US indexes.
Oil prices continued to decline as investors kept a close eye on US-Iran negotiations, potentially leading to a resolution of their conflict. Brent crude prices edged closer to pre-war levels, impacting energy companies such as Exxon Mobil and Chevron.
Looking ahead, markets are focusing on the upcoming US inflation data. The Federal Reserve is closely monitoring these price trends as it considers future interest-rate decisions. Economists predict that the Personal Consumption Expenditures index will indicate ongoing inflation pressure.