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2026-08-05T12:12:34.000Z

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Asian stocks rise on tech gains

Asian stocks rise on tech gains

Asian stocks jumped during Wednesday's trading session, supported by strong earnings results and increased investor interest in technology shares, despite declines in oil prices and bond yields amid expectations of progress in efforts to reopen the Strait of Hormuz. The Japanese Nikkei index rose by 3.5%, the South Korean KOSPI increased by 4.3%, and Chinese stocks gained 1.5%. The technology sector continued to drive the market higher, even as AMD's stock dropped by about 8.8% following its earnings report. Meanwhile, SpaceX's shares declined amid concerns that investments in artificial intelligence and satellite projects could impact cash flows, with investors awaiting the company's share sale. The U.S. market remained stable as the S&P 500 advanced, and positive outlooks emerged for European markets.

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