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Asian stocks climb on chip gains and US inflation data
Most Asian stocks rose today, Thursday, supported by the performance of semiconductor companies, especially in Japan where the Nikkei 225 index jumped by 2.5%. This was driven by strong results from Micro Technologies, which forecasted higher-than-expected first-quarter revenues, boosting demand for AI chips. Additionally, US inflation data came in lower than expected, calming expectations of interest rate hikes by the Federal Reserve, which in turn supported the markets. Nonetheless, oil prices remained around $100 per barrel, with concerns over potential disruptions in Middle Eastern oil supplies putting pressure on Asian markets.
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