Asian stock markets were mixed on Tuesday, with South Korean shares touching record highs on chipmaker gains, while broader sentiment remained cautious as investors tracked developments around a fragile U.S.-Iran ceasefire.
Wall Street futures edged higher in Asian trading on Tuesday after U.S. stock benchmarks closed marginally lower overnight.
KOSPI hits record high with chipmaker gains
South Korea’s KOSPI climbed over 2% to an all-time high of 6,361.17 points, buoyed by optimism around artificial intelligence-linked chipmakers.
SK Hynix (KS:000660) surged to fresh record levels on Tuesday, extending its rally after announcing plans to begin production of advanced memory modules for next-generation AI chips made by NVIDIA Corporation (NASDAQ:NVDA).
Japanese stocks were also underpinned by technology stocks.
The Nikkei 225 rose 1.3%, while the broader TOPIX index edged 0.3% higher.
Wall Street posted solid gains last week, supported by resilient corporate earnings and continued momentum in AI-linked shares.
Traders eye US-Iran talks ahead of ceasefire expiry
However, gains across the region were capped by renewed geopolitical uncertainty.
Oil prices remained largely elevated after tensions between Washington and Tehran intensified, following the reported seizure of an Iranian vessel and concerns over potential disruptions in the Strait of Hormuz, a critical energy route.
Investors were also closely watching diplomatic efforts in Islamabad, where talks aimed at de-escalating the conflict have produced mixed signals.
Source : investing.com