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ASIA STOCKS: Asian Equities Broadly Higher, Tech Stocks Lead Gains

ASIA STOCKS
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Asian markets broadly rose on Friday, buoyed by Wall Street’s gains and renewed optimism about Nvidia’s growth prospects. In Japan, strong US labor data and optimism in the chip sector supported exporters and tech stocks, with the Nikkei advancing 0.8%. A slight strengthening of the yen following comments from Bank of Japan Governor Kazuo Ueda limited further gains. Comments from Chicago Fed President Austan Goolsbee, indicating that U.S. interest rates could trend lower as inflation nears target, also bolstered sentiment.

  • Japanese equities are roughly 1% higher following news of a $140 billion government stimulus announcement, while Australian, Korean, and Taiwan also advanced. Semiconductor stocks have been the top performing, with the BBG Semiconductor  Index up 2.50% led by a 4.5% gain from SK Hynix and a 3% gain from TSMC, which has helped Taiwan's TAEIX jump 1.75%.
  • China & Hong Kong equities have struggled today, with most major benchmarks across the region trading lower, with the exception of the HSTech Index which is trading 0.65% higher.
  • Bitcoin surged past $99,000 before easing slightly, fueled by expectations of crypto deregulation under a Trump administration. Oil prices climbed further as geopolitical tensions intensified following Russia's missile strike on Ukraine and warnings of a broader conflict.
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Asian markets broadly rose on Friday, buoyed by Wall Street’s gains and renewed optimism about Nvidia’s growth prospects. In Japan, strong US labor data and optimism in the chip sector supported exporters and tech stocks, with the Nikkei advancing 0.8%. A slight strengthening of the yen following comments from Bank of Japan Governor Kazuo Ueda limited further gains. Comments from Chicago Fed President Austan Goolsbee, indicating that U.S. interest rates could trend lower as inflation nears target, also bolstered sentiment.

  • Japanese equities are roughly 1% higher following news of a $140 billion government stimulus announcement, while Australian, Korean, and Taiwan also advanced. Semiconductor stocks have been the top performing, with the BBG Semiconductor  Index up 2.50% led by a 4.5% gain from SK Hynix and a 3% gain from TSMC, which has helped Taiwan's TAEIX jump 1.75%.
  • China & Hong Kong equities have struggled today, with most major benchmarks across the region trading lower, with the exception of the HSTech Index which is trading 0.65% higher.
  • Bitcoin surged past $99,000 before easing slightly, fueled by expectations of crypto deregulation under a Trump administration. Oil prices climbed further as geopolitical tensions intensified following Russia's missile strike on Ukraine and warnings of a broader conflict.