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2026-09-07T04:32:07.796Z

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Asia's Semiconductor Gains Fueled by OpenAI Model

Asia's Semiconductor Gains Fueled by OpenAI Model

Stock gains in Asian markets were driven higher by the announcement from OpenAI about developing a new model called "GPT-6," which is considered a significant step in its pursuit of Artificial General Intelligence. Stock indices, including the MSCI Asia and Pacific Index, rose by 1.2%, with substantial contributions from the South Korean chipmakers SK Hynix and Samsung Electronics. This rally followed an increase in the Nasdaq 100, particularly the semiconductor index, which advanced by 3.4%. Meanwhile, news of geopolitical tensions and rising oil prices—amid escalating tensions in the Strait of Hormuz—supported the bullish momentum in oil, which is on track for its biggest weekly gain since July, driven by US strikes on Iranian tankers and tensions between the US and Iran. Additionally, China announced a $45 billion injection into its largest banks and insurance companies to bolster the financial sector. Oil prices also climbed toward $97 per barrel (Brent), before giving up some gains, amid expectations of rising inflation and potential U.S. interest rate hikes.

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