Asian stock markets experienced a positive upswing on Thursday, largely driven by robust performances in Japan and South Korea, where technology shares soared after upbeat earnings reports from leading US semiconductor firms. Investor sentiment improved significantly as Qualcomm and Micron Technology provided optimistic forecasts, sparking increased demand for semiconductor stocks across the region.
Qualcomm saw its shares rise after the company raised its annual revenue forecast and introduced a new data center chip, while Micron outperformed market expectations, further fueling the rally. Japan’s Nikkei 225 index surged, buoyed by strong gains in chip-related sectors. Meanwhile, South Korea’s Kospi index hit a record high, propelled by advances in major tech companies like Samsung Electronics and SK Hynix.
Across other Asian markets, results were mixed. India, Taiwan, and China posted modest gains, whereas Hong Kong and Australia experienced declines. This regional trend unfolded following a mixed session on Wall Street, where losses in some major technology companies exerted downward pressure on US indexes.
In the energy sector, oil prices declined as investors monitored ongoing US-Iran negotiations that may lead to a resolution of their conflict. Brent crude prices edged closer to levels seen prior to the war, exerting pressure on energy giants such as Exxon Mobil and Chevron.
Looking ahead, market participants are keenly anticipating upcoming US inflation data. The Federal Reserve is closely observing inflation trends as it deliberates future interest-rate decisions. Economists predict that the Personal Consumption Expenditures index will reflect ongoing inflationary pressures.