Precise Investors Editorial Team
KOSPI outperformed peers, jumping 3% as heavyweight memory chipmakers SK Hynix and Samsung Electronics climbed
Most Asian stocks advanced on Thursday as optimism over another surge in artificial intelligence spending lifted semiconductor shares, although gains were capped by soaring oil prices amid escalating tensions in the Middle East.
KOSPI outperformed peers, jumping 3% as heavyweight memory chipmakers SK Hynix and Samsung Electronics climbed on expectations that Alphabet’s higher capital expenditure will support demand for high-bandwidth memory and AI servers.
South Korea’s economy grew 3.7% year-on-year in the second quarter of 2026, above expectations of 3.5% growth, aided chiefly by strong semiconductor exports as growing artificial intelligence spending fuelled strong overseas demand.
Nikkei 225 edged up 0.4%, while the broader TOPIX index gained 0.5%.
Hang Seng index added 1.3%.
Gains were restrained as crude oil prices jumped for a fifth straight session to six-week highs after Yemen’s Houthis attacked two Saudi oil tankers in the Red Sea, heightening fears of disruptions to international energy supplies.
Higher oil prices rekindled concerns about inflation, prompting investors to reassess the outlook for interest rates. The rise in energy costs also weighed on broader risk appetite even as technology shares found support from the AI theme.
Shanghai Composite and the blue-chip Shanghai Shenzhen CSI 300 shed 0.2% each.
Australia’s labour market also remained in focus after data showed employment surged by 76,300 jobs in June, well above forecasts for a 16,400 increase, while the unemployment rate held at 4.4%.
The stronger-than-expected report increased chances that the Reserve Bank of Australia will raise its cash rate by 25 basis points before year-end. Traders are now focused on next week’s quarterly inflation figures, which could shape expectations for the RBA’s Aug. 11 policy meeting.
S&P/ASX 200 added 0.7%, while Straits Times Index dropped 0.8% ahead of domestic consumer inflation data due later in the day.
Futures tied to Nifty 50 traded largely flat.
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