Asian technology stocks rallied strongly today, following Wall Street's record-breaking surge overnight, driven by robust US corporate earnings and a continued decline in crude oil prices. In Japan, SoftBank Group jumped more than 10%, chip equipment maker Tokyo Electron rose 3.64%, Advantest soared 7%, and Japanese memory chip maker Kioxia surged 6.34%. In South Korea, SK Hynix climbed 6.9%, Samsung Electronics gained over 4%, and Seoul Semiconductor jumped 7.6%. Andrew Jackson, strategist at Ortus Advisors, said the overnight rally in US semiconductor stocks reinforced a positive outlook for Asian artificial intelligence plays, and he expects SoftBank to extend gains after its chip design subsidiary Arm Holdings surged on optimism over rising royalties from AI data centers. Crude oil prices fell again amid hopes that the Strait of Hormuz could reopen to shipping soon, after US Treasury Secretary Scott Bessent said in an interview that the US and Iran could reach a deal to open the strait within days.
SK Hynix Inc
Kioxia Holdings Corporation
Advantest Corp.
TE Connectivity Ltd
Samsung Electronics Co Ltd
Arm Holdings plc American Depositary Shares
Seoul Semiconductor Co. Ltd
SoftBank Group Corp.