The blockbuster listing is fueling optimism around AI-related stocks, even as tensions in the Middle East keep investors on edge.
Asian stocks climbed on Friday, led by chipmakers and AI firms, as investors looked past renewed hostilities between the United States and Iran. Markets instead focused on the highly anticipated U.S. debut of South Korean memory chip giant SK Hynix.
Chip Stocks Extend the AI Rally
Japan's Nikkei rose 1.8%, while South Korea's KOSPI jumped more than 5%, extending its run as one of the world's best-performing markets. SK Hynix gained nearly 3% in Seoul, and Samsung Electronics surged around 6%.
The rally followed Micron Technology's announcement that it plans to invest more than $250 billion in the United States by 2035, lifting chip stocks globally. The Philadelphia Semiconductor Index rose 3% overnight.
All Eyes on SK Hynix's Blockbuster Listing
Investors are also closely watching SK Hynix's U.S. listing after the company priced its American Depositary Receipts at $149 each, raising about $26.5 billion. The deal is expected to become the world's second-largest share sale after SpaceX's IPO last month.
The funds will help expand factories and equipment to meet booming AI chip demand, reinforcing investor enthusiasm for companies linked to the AI supply chain.
Oil and Yen Remain in Focus
In currencies, the Japanese yen strengthened 0.4% to 161.69 per dollar after Finance Minister Satsuki Katayama said the government wants pension funds to increase investments in domestic assets.
Oil prices remained elevated as the U.S.-Iran conflict intensified, with Brent crude heading for a 5% weekly gain and trading near $76.73 a barrel.
For traders, the message remains clear: the AI boom continues to drive global markets, but geopolitical risks and inflation concerns could quickly shift sentiment.
Investors will now watch SK Hynix's U.S. debut, developments in the Middle East, and any signals on the future path of U.S. interest rates.
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Source: Reuters
Time: 11:00 AM EEST
