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Asian Markets Rise on Chip Gains
Asian markets continued to achieve collective gains, supported by a rebound in the technology sector, especially semiconductor and artificial intelligence companies, despite escalating tensions in the Middle East. The Japanese Nikkei index rose by 0.43%, while the Korean Kospi increased by 1.6% thanks to strong performances from Samsung and SKE Hynix. Confidence in Japanese manufacturers also reached its highest level since 2021, amid strong demand for semiconductors and data centers, with the U.S. S&P 500 index climbing by 1.3%. However, the escalation of hostilities in the Middle East put pressure on energy markets, with Brent crude rising to around $100 per barrel, which could impact inflation and economic costs in the region.
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