Asian stock markets extended gains on Friday, buoyed by strong performances in semiconductor and artificial intelligence sectors ahead of SK Hynix’s planned U.S. listing.
Despite ongoing tensions between the U.S. and Iran, investor sentiment remained cautiously optimistic amid expectations that regional conflicts would not escalate significantly.
The U.S. dollar index showed muted movement during Asian trading hours, while gold prices dipped slightly to $4,110 per ounce following statements from U.S. officials emphasizing continued diplomatic engagement with Iran.
Brent crude futures traded below $76 a barrel but maintained momentum for a 6% weekly increase, as the U.S. conducted strikes on Iranian targets and Iran responded with attacks on American military installations in the Gulf region.
China’s Shanghai Composite index declined 1% to 3,996.16, whereas Hong Kong’s Hang Seng index rose 0.6% to 24,175.12, buoyed by improved investor confidence in Chinese internet firms.
Japanese equities posted robust gains, led by AI-related stocks. The Nikkei 225 climbed 1.2% to 68,557.73 as the yen lingered near multi-decade lows, while the government introduced measures to incentivize pension funds toward domestic asset investments. The Topix index advanced 0.39% to 4,036.08, with SoftBank Group surging 10.7% after its OpenAI investments drew renewed attention.
Semiconductor equipment manufacturers Advantest and Tokyo Electron rose 2.3% and 2.7%, respectively. In Seoul, the Kospi index jumped 2.52% to 7,475.94, recovering earlier weekly losses, while shipbuilder Hanwha Ocean gained 3.4% amid reports of $2 billion currency market transactions.
Australian markets closed modestly higher, with gold and mining stocks rebounding from prior losses. The S&P/ASX 200 rose 0.5% to 8,806, ending a four-day downtrend, as declining oil prices eased pressure on bond yields. The All Ordinaries index added 0.47% to 9,003.70. New Zealand markets observed Mtariki Day closures.
Overnight, U.S. markets closed higher with tech stocks outperforming, driven by demand for SK Hynix’s $28 billion public offering and Micron Technology’s $3 billion semiconductor supply chain investment plan. Geopolitical tensions eased temporarily after President Trump suggested Iran was eager to negotiate, though skepticism lingered. The Nasdaq Composite rose 1.3%, the S&P 500 gained 0.8%, and the Dow increased 0.3%.
