Asian stock markets climbed in broad-based buying on Monday, led by gains in technology shares and chipmakers amid renewed optimism around artificial intelligence, while investors also assessed China’s decision to keep key lending rates unchanged.
Major Wall Street indices ended mixed last week, while futures tied to them edged higher during Asia hours on Monday.
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Nikkei, KOSPI jump 2% on tech gains
Regional markets rose, tracking strength in U.S. equities late last week, where technology stocks rebounded as concerns over heavy AI-related spending and stretched valuations eased.
Chipmakers, which had come under pressure amid fears that capital expenditure could outpace near-term returns, recovered as investors judged that demand linked to artificial intelligence and data centres remains resilient.
Japan’s Nikkei 225 jumped 2%, while the broader TOPIX index gained 0.8%.
Japan’s Advantest Corp (TYO:6857) rose over%, while SoftBank Group (TYO:9984) climbed more than 5%.
In Seoul, the KOSPI also added 2%, powered by gains in heavyweight chipmakers Samsung Electronics (KS:005930) and SK Hynix Inc (KS:000660).
China’s Shanghai Composite rose 0.6%, while the Shanghai Shenzhen CSI 300 gained 0.8%.
Hong Kong’s Hang Seng index edged up 0.3%, with Hang Seng TECH sub-index advancing 0.7%.
Elsewhere in Asia, Australia’s S&P/ASX 200 climbed 1%, while Singapore’s Straits Times Index gained 0.7%.
Source : Investing.com