Precise Investors Editorial Team
The rebound followed a volatile week for world technology stocks, with investors stepping back into semiconductor names after concerns over AI infrastructure spending triggered broad profit-taking earlier in the week
Asian equities rebounded on Friday as bargain hunting in technology shares combined with easing geopolitical tensions.
The rebound followed a volatile week for world technology stocks, with investors stepping back into semiconductor names after concerns over AI infrastructure spending triggered broad profit-taking earlier in the week.
South Korean equities led the rebound after Thursday’s technology-driven selloff pushed the KOSPI close to technical bear-market territory.
The KOSPI jumped 2.7%, leading gains after tumbling over the previous two sessions, although the benchmark remained down around 6.5% for the week. Nikkei 225 gained 0.7% and was little changed so far this week, while STI was set to close the week at record levels.
Technology heavyweights attracted bargain hunting after two sessions of heavy profit-taking, with Samsung Electronics Co Ltd adding 6.5% and SK Hynix Inc advancing 4.2%. Even after Friday’s rebound, Samsung remained down 10.2% for the week, while SK Hynix had declined 15.4%.
The recovery extended across Asia’s semiconductor supply chain. TOPIX added 0.8% gain as investors rotated back into technology and export-oriented names.
Chinese shares also bounced after two straight sessions of losses, with the Shanghai Shenzhen CSI 300 gaining 1.1% and the Shanghai Composite adding 0.6%. Sentiment was supported by the private Caixin/RatingDog services PMI, which remained firmly in expansion territory, reinforcing evidence that domestic demand continues to improve alongside earlier manufacturing data.
Economic releases broadly supported the improved mood. Australia’s composite PMI returned to expansion, while Japan’s final services PMI was revised higher, pointing to continued strength in domestic demand. South Korea’s foreign exchange reserves also rose in June, providing a modest signal of financial stability after this week’s market volatility.
S&P/ASX 200 jumped 1.2% after stronger-than-expected services activity pointed to improving business conditions. Jakarta Stock Exchange Composite Index added 2.2%, trimming its weekly decline to nearly 0.4%, while Hang Seng added 1.4% to extend its weekly advance to almost 3.2%.
Looking ahead, attention now turns to Thailand’s inflation data on Monday, while Bank Negara Malaysia is widely expected to leave interest rates unchanged next week. According to ANZ, inflation is also expected to remain broadly stable in China and Taiwan while easing only marginally in the Philippines, giving investors new insight into policy outlook after a week dominated by global technology sentiment.
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