Asian stock markets climbed in early trade on Thursday, tracking strong earnings from US chipmaker Micron Technology, which reignited optimism over global demand for artificial intelligence-related semiconductors.
The rally was led by Japan’s Nikkei 225, which rose 2.31% in early trading. South Korea’s Kospi outperformed, surging 5.65% as investors piled into chip-related stocks.
Sentiment across the region was lifted after Micron reported quarterly revenue that quadrupled year on year, with results closely watched as a gauge for the strength of the semiconductor cycle and the durability of the AI-driven rally.
Investors are also looking ahead to Micron’s forecast for the current quarter, where it expects revenue of around US$50 billion, which would mark another record if achieved.
The strong performance from Micron added further momentum to the tech sector, especially in South Korea, where chipmakers remain at the centre of the AI trade.
In Seoul, the Kospi’s gains were further supported by SK Hynix, which surged 11% after announcing plans to raise up to US$29 billion through a Nasdaq listing. The move added to bullish sentiment around memory chipmakers benefiting from surging AI infrastructure demand.
SK Hynix’s strong opening in early trade briefly pushed it higher before gains moderated, but the stock remained one of the key drivers of the index rally.
Overall, the latest earnings reinforced expectations that demand for high-bandwidth memory chips and other AI-related components remains strong, keeping investors firmly positioned in the semiconductor space across Asia.
Reuters
