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Chip rally overshadows Iran tensions

Asian equities rose on Friday as semiconductor shares recovered, with investors focusing on artificial intelligence-related capital spending despite renewed US-Iran military tensions and risks to oil supplies. US equities also advanced on Thursday, led by a rebound in chip stocks, while European markets finished broadly higher. The US said it would keep pursuing technical discussions with Iran even after US President Donald Trump declared the ceasefire defunct, while both sides accused each other of breaching last month’s memorandum of understanding following renewed strikes around the Strait of Hormuz. Brent crude oil futures rose 0.3% to USD 76.54 per barrel and West Texas Intermediate (WTI) futures added 0.3% to USD 72.32, while the US Dollar Index slipped 0.1% to 100.80.

  • Data
  • Autore Shane Strowmatt, Senior Investment Writer
  • Tempo di lettura 5 minuto

DRAM memory chips
DRAM memory chips © Shutterstock

Asian equities rose on Friday as semiconductor shares recovered, with investors focusing on artificial intelligence-related capital spending despite renewed US-Iran military tensions and risks to oil supplies. South Korea’s Kospi jumped 4.5% after entering bear-market territory on Thursday, although it remained down more than 6% for the week, while Samsung Electronics gained 5.8% and SK Hynix added 3.1% after pricing a USD 26.5 billion US share offering. The rebound was supported by Micron’s plan to invest about USD 250 billion in US memory-chip capacity through 2035, while SK Hynix remains roughly 680% higher than a year earlier. Japan’s Nikkei 225 climbed 1.5%, Hong Kong’s Hang Seng Index rose 1.4% and Australia’s S&P/ASX 200 gained 0.3%.

Nasdaq rises as chip stocks rebound

US equities advanced on Thursday despite intensifying clashes between the United States and Iran, with chipmakers leading a recovery that lifted the Nasdaq 100 by 1.6% to 29,727.10 points. Lower oil and gas prices helped sentiment, while the S&P 500 gained 0.8% to 7543.64 points and the Dow Jones Industrial Average rose 0.3% to 52,487.41 points, held back by losses in software names including IBM, Microsoft and Salesforce. Memory chipmaker Micron climbed 4.5% after saying it plans to invest more than USD 250 billion to expand semiconductor and storage capacity by 2035.

German exports rise in May

German goods exports increased by 0.9% month-on-month to EUR 137.9 billion in May, from EUR 136.6 billion in April, while imports fell 2.5% to EUR 118.8 billion, according to preliminary Destatis data released on Thursday. Exports were 6.1% higher than a year earlier, while imports rose 6.9%. European equities were higher on Thursday, with the Euro Stoxx 50 up 1.3% at 6282.36 points, Germany’s DAX rising 0.9% to 25,118.27 points, France’s CAC 40 gaining 0.9% to 8326.62 points and the Swiss Market Index adding 0.3% to 14,215.30 points.

Corporate and economic calendar

Corporate news in focus: There is no major corporate news scheduled today.

Economic data in focus: German Consumer Price Index (08:00), French Consumer Price Index (08:45), SECO Swiss consumer sentiment (09:00), Canadian unemployment rate (14:30).

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