Rebound in tech shares pushes Asian shares higher, while oil prices fall
Summary
Asian stock markets rose mainly because technology companies in Japan and South Korea did well after U.S. chipmakers Qualcomm and Micron reported strong earnings. Oil prices fell by more than $1, moving closer to pre-war levels with Iran.Key Facts
- Japan’s Nikkei 225 index rose 4.1%, led by tech stocks.
- South Korea’s Kospi index reached a record high, climbing 5.9%.
- Qualcomm’s shares jumped 12% after raising its revenue forecast to $40 billion and announcing a new data center chip.
- Micron Technology’s shares rose nearly 16% after beating analyst expectations and raising its forecast.
- Tokyo Electron and Advantest, both chip-related companies, saw big stock gains of 7.1% and 13.4%.
- Samsung Electronics gained 5.4%, and SK Hynix increased 11.6%.
- Oil prices dropped more than $1 towards levels seen before the conflict with Iran began.
- Other Asian markets showed smaller gains or losses, with Hong Kong’s Hang Seng falling 1.4%.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.