South Korea\u2019s KOSPI surged nearly 5% to a record high of 8,874.16 points, supported mainly by technology names. Memory chip producers Samsung Electronics Co Ltd and SK Hynix Inc each rose nearly 10% to record highs, while LG Electronics Inc climbed nearly 30%. The moves followed reports that NVIDIA Corporation CEO Jensen Huang will meet major South Korean technology executives during a visit later this week.<\/p>\n
Nvidia is also scheduled to hold an event on the sidelines of the COMPUTEX trade show in Taipei on Monday, which will involve major South Korean executives. The company already maintains extensive business ties with South Korean firms, particularly SK Hynix and Samsung. Speculation over additional partnerships, combined with continued optimism about AI-driven demand for chips and server infrastructure, supported further buying in these stocks.<\/p>\n
Japanese equities also advanced, with the Nikkei 225 rising 1%, led by technology shares. SoftBank Group Corp. gained over 10% to a record high, making it Japan\u2019s most valuable company by market capitalization, surpassing Toyota Motor Corp. The tech conglomerate has benefited from market optimism over AI, given its exposure to OpenAI. Other Japanese technology and AI-related stocks rallied as well, with Murata Mfg Co up 14% and Kioxia Holdings Corp rising 11%.<\/p>\n
Regional markets followed Friday\u2019s record closes on Wall Street, where technology strength and a mildly softer-than-expected U.S. inflation reading underpinned sentiment. This inflation data also contributed to some expectations that the economic impact of the Iran war may be less severe than initially feared, even as reports indicated ongoing but inconclusive U.S.-Iran peace negotiations.<\/p>\n
Hong Kong\u2019s Hang Seng index rose 0.5%, supported by technology gains. In contrast, mainland Chinese equities weakened: the Shanghai Shenzhen CSI 300 fell 1% and the Shanghai Composite declined 0.4%. Purchasing managers index figures released on Sunday and Monday indicated some cooling in manufacturing growth in May, reinforcing uncertainty over the outlook for China\u2019s economy.<\/p>\n
Elsewhere in the region, Australia\u2019s ASX 200 slipped 0.1%, Singapore\u2019s Straits Times index was flat, and futures for India\u2019s Nifty 50 index were down 0.2%.<\/p>\n
What drove the KOSPI to a record high?<\/strong> Why did Japanese tech stocks rise?<\/strong> How did Chinese markets perform?<\/strong> Were all Asian markets higher?<\/strong>
The KOSPI\u2019s nearly 5% rise to 8,874.16 points was mainly driven by strong gains in technology shares, particularly Samsung Electronics, SK Hynix, and LG Electronics, amid optimism about AI and potential expanded partnerships with Nvidia.<\/p>\n
Japanese tech stocks gained on AI-related optimism and positive cues from Wall Street. SoftBank Group Corp. rallied over 10% to a record high, becoming Japan\u2019s most valuable company, while other chip and AI-related names such as Murata Mfg Co and Kioxia Holdings Corp also advanced sharply.<\/p>\n
Chinese markets declined, with the CSI 300 down 1% and the Shanghai Composite off 0.4%, after purchasing managers index data signaled cooling manufacturing growth in May, adding to uncertainty about China\u2019s economic momentum.<\/p>\n
No. While South Korea, Japan, and Hong Kong posted gains, Australia\u2019s ASX 200 edged down 0.1%, Singapore\u2019s Straits Times was unchanged, and India\u2019s Nifty 50 futures fell 0.2%.<\/p>\n