Asian technology stocks surged Wednesday, driven by a strong Wall Street rally overnight supported by solid corporate earnings and declining oil prices. SoftBank Group shares soared more than 10%, while companies like Samsung Electronics, SK Hynix, Tokyo Electron and Kioxia posted gains ranging from 3.64% to 6.9%. Ortus Advisors strategist Andrew Jackson noted that the U.S. semiconductor rally reinforced the bullish outlook for Asian AI names, particularly SoftBank after Arm Holdings, its majority-owned chip design subsidiary, jumped on higher AI-related data center royalty optimism. The Nasdaq closed at a record 26,584.99 points, up 2.59%, with Palantir Technologies rallying over 29%.
Source: Read the original article
