Japan, South Korea Stocks Hit Records on Chip Rally
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- Nikkei 225 climbed as much as 2.2% to a record 66,428.81 points, with Japan's broader TOPIX trading flat as the tech sector led gains
- KOSPI surged 5% to a fresh record of 8,457.9 points on an AI-fuelled rally in South Korean chipmakers
- SK Hynix shares jumped nearly 14%, pushing the company's market capitalisation above $1 trillion for the first time and joining Samsung and Micron in the trillion-dollar chipmaker club
- Samsung Electronics shares hit a record high, climbing as much as 8%, after unionised workers approved a contentious wage and bonus agreement that averted a potentially disruptive strike
- Wall Street's S&P 500 and NASDAQ Composite closed at all-time highs overnight, with Micron Technology rallying sharply after a bullish brokerage upgrade on AI spending optimism
- China's Shanghai Composite fell 1.1% and Hong Kong's Hang Seng slipped 0.8% despite chipmaking stocks advancing, as gains across the region were capped by concerns over renewed U.S. military strikes on Iran derailing peace talks
- Brent crude hovered near $99 per barrel amid continued supply disruptions through the Strait of Hormuz, while the RBNZ held its cash rate at 2.25% but signalled inflation could peak at 4.3% on Middle East energy costs
Why it matters: SK Hynix's entry into the trillion-dollar club alongside Samsung and Micron shows AI-driven semiconductor demand is concentrating Asian equity gains in Japan and Korea while China lags — KOSPI jumped 5% the same day Shanghai fell 1.1%. With Brent crude near $99 on Strait of Hormuz disruptions and the RBNZ warning inflation could hit 4.3%, Middle East energy risk is simultaneously fueling chip-sector euphoria and tightening monetary conditions across the broader region.
