Precise Investors Editorial Team
Nikkei gained 0.8%, Taiwanese shares jumped 1.4%, KOSPI climbed 1.8% and Australia’s equity benchmark gained 1.1%
Stocks rose across most of Asia on Thursday, with the chip sector continuing to be buoyant. Trade frictions between Beijing and Washington increased the appeal of safe havens like gold – which renewed a record high – and the yen, while undercutting the dollar.
Crude oil gained after U.S. President Donald Trump said Indian Prime Minister Narendra Modi had pledged his country would stop buying oil from Russia, which supplies about one-third of its imports.
Nikkei gained 0.8%, with chip- and artificial intelligence-related shares boosting the index.
Taiwanese shares jumped 1.4%, KOSPI climbed 1.8% and Australia’s equity benchmark gained 1.1%, with all three hitting all-time highs.
Taiwan chipmaker TSMC reports earnings later in the day, after Dutch chip-making tool manufacturer ASML reported third-quarter orders and operating income above market expectations, underpinned by booming AI investment.
Hong Kong and mainland Chinese shares were also higher after an initial wobble, despite the drag from trade tensions.
Optimism over the AI narrative and signs of economic strength from robust U.S. bank earnings stole the spotlight for stock investors, even with Trump pronouncing late Wednesday that the U.S. is “in a trade war with China” – which markets had already concluded from recent comments from both sides.
Gold gained another 0.6% in the latest session to reach an unprecedented $4,234.41 per ounce.
The euro was 0.2% higher at $1.1667.
The dollar sagged for a third straight session, dropping 0.2% against a range of major peers.
It slid as much as 0.4% to 150.51 yen, putting the psychologically key 150 line in focus. It also eased 0.4% to 0.7943 Swiss franc, another traditional haven currency.
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