Asian stock markets experienced an upswing on Thursday, driven primarily by significant gains in Japan and South Korea, as technology shares soared following encouraging earnings reports from key US semiconductor companies. The positive sentiment among investors was largely attributed to Qualcomm and Micron Technology, both of which revised their financial outlooks upward, thereby bolstering demand for semiconductor stocks throughout the region.
Qualcomm’s stock saw a notable increase after the company enhanced its annual revenue projections and introduced a new chip designed for data centers. Meanwhile, Micron Technology exceeded market expectations, further contributing to the sector’s rally. These developments propelled Japan’s Nikkei 225 to a sharp rise, supported by advances in chip-related firms, while South Korea’s Kospi hit a record high, buoyed by the performance of major technology companies like Samsung Electronics and SK Hynix.
Elsewhere in the region, market performance was mixed. India, Taiwan, and China experienced moderate gains, whereas markets in Hong Kong and Australia saw declines. This regional activity followed a mixed session on Wall Street, where losses in some leading technology stocks impacted US indexes.
In the commodities sector, oil prices fell as investors monitored ongoing US-Iran negotiations aimed at resolving their conflict. The price of Brent crude approached levels not seen since before the war, placing pressure on energy giants such as Exxon Mobil and Chevron.
Investors are also turning their attention to forthcoming US inflation data, which will be crucial for the Federal Reserve as it evaluates future interest rate decisions. Economists anticipate that the upcoming Personal Consumption Expenditures index will reveal persistent inflationary pressures.