SoftBank jumps 10% as Asia tech stocks track Wall Street AI rally
Asian technology stocks rallied on Wednesday after Wall Street's record-setting session fueled optimism around artificial intelligence and growth stocks.
Asian technology stocks experienced a significant surge on Wednesday, tracking the Wall Street AI rally that saw major U.S. indexes reach new records. SoftBank Group was among the top gainers, jumping over 10%, while chip equipment maker Tokyo Electron and Advantest also saw substantial gains of 3.64% and 7%, respectively. Japanese memory chipmaker Kioxia and South Korean SK Hynix both rose 6.34% and 6.9%, respectively.
Seoul Semiconductor also benefited from the rally, with its shares increasing by 7.6%. Analysts are optimistic about the continued growth in Asian tech stocks, citing the surge in chipmakers and infrastructure suppliers overnight and the potential reopening of the Strait of Hormuz, which could ease global energy supply concerns.
Brief written by urgent.news from CNBC's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
