Asian Stocks Head for Fourth Week of Gains, AI & Chips Fuel
Asian stocks are heading for a fourth straight weekly gain, their longest winning streak since May, driven by a rally in tech stocks that has surged to new highs on artificial intelligence hype. The MSCI Asia Pacific Index has gained more than 7% over the past four weeks. Friday's trading was mixed: Japan weakened, while South Korea—the AI poster child—rose.
Regional sentiment was buoyed by gains on Wall Street and Europe, which recovered on Thursday after Taiwan Semiconductor Manufacturing's (TSMC) earnings report reinforced confidence that data center spending remains solid. TSMC shares surged 4.4%, boosting major AI players like Nvidia and ASML, while also helping stabilize a market rotation away from megacap tech stocks.
On the macro front, US Treasury yields were relatively stable in Asia after rising in the US session as jobless claims data fell to its lowest level since November—bolstering market confidence that the Fed will hold interest rates for longer. Oil also remained subdued after Trump's comments on Iran eased supply concerns, while gold and silver edged lower. Asia's focus is now on Japan, as the yen creeps closer to 160 per dollar (intervention rumors are back in the news) and BOJ officials monitor the yen's impact on inflation ahead of a potential "hold" decision next week. (asd)
Source: Newsmaker.id
