Asian stocks trade in green: Kospi adds 6%, Nikkei jumps over 1,100 points
Asian stock markets rallied on Wednesday, led by gains in technology and semiconductor shares, despite rising geopolitical tensions in the Middle East. Investors focused on strong export data from Korea and Taiwan, which helped offset concerns about oil price volatility.
Why it matters
The market rebound indicates investor confidence in the tech sector's growth potential, which is currently outweighing broader macroeconomic and geopolitical risks.
Asian equities opened higher on Wednesday, tracking overnight gains on Wall Street as investors looked past rising geopolitical tensions in the Middle East and focused instead on a rebound in technology stocks.The gains were led by Japan, South Korea and Taiwan. Japan's Nikkei climbed 1.30% or 861.21 points to 67,093.4, while South Korea's Kospi surged 4.78% or 322.54 points to 7,070.49 around 9:30 am IST. Taiwan's benchmark index advanced 1.75% or 775.43 points to 45,008.3. In China, the Shanghai Composite rose 0.50% or 19.217 points to 3,883.584, while the Shenzhen Composite gained 0.61% or 87.622 points to 14,351.914. However, Hong Kong's Hang Seng Index (HSI) fell 0.73% or 183.24 points to 24,949.05.
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