Precise Investors Editorial Team
Nikkei 225 jumped 2.2% to a new record high of 66,428.81 points, while KOSPI surged 5% to a new record of 8,457.9 points
Asian stock markets were mixed on Wednesday, with Japanese and South Korean shares hitting new record highs.
Nikkei 225 jumped 2.2% to a new record high of 66,428.81 points, while the broader TOPIX index traded flat.
KOSPI surged 5% to a new record of 8,457.9 points, as an AI-fuelled rally in chipmakers gathered pace.
Shares of SK Hynix climbed almost 14%, pushing the company’s market capitalisation above $1 trillion for the first time and joining rivals Samsung Electronics and Micron Technology in the trillion-dollar club.
Samsung Electronics shares also hit a record high, jumping 8%, after unionised workers approved a contentious wage and bonus agreement that averted a potentially disruptive strike.
Technology shares continued to benefit from optimism surrounding artificial intelligence spending.
In commodities, oil prices remained volatile, with Brent crude hovering near $99 per barrel amid continued supply disruptions through the Strait of Hormuz.
Shanghai Composite dropped 1.1%, while the blue-chip Shanghai Shenzhen CSI 300 index eased 0.7%.
Hang Seng index slid 0.8% despite chipmaking stocks advancing.
Nifty 50 ticked 0.1% higher. Singapore markets were closed for a public holiday.
S&P/ASX 200 edged up 0.2% after data showed underlying consumer prices advanced 3.4% year-on-year in April, from 3.3% in March, reinforcing views that the Reserve Bank of Australia may keep interest rates higher for longer.
The Reserve Bank of New Zealand kept its official cash rate unchanged at 2.25% but signalled that future rate hikes would likely be needed sooner and by more than previously expected due to mounting inflation pressures from higher energy costs.
The central bank warned inflation could peak at 4.3% later this year as the Middle East war drives up fuel and petrochemical prices, even as economic growth weakens.
NZX 50 index added 0.9%.
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