Asian Stocks Soar, Micron Revives AI Trade
Asian stock markets rallied on Thursday (June 25th), following gains in Wall Street futures after Micron Technology's outlook rekindled optimism for artificial intelligence-based stocks. Nasdaq 100 futures rose nearly 2%, while S&P 500 futures gained 0.5%. In Asia, South Korea's Kospi index jumped nearly 5%, while the MSCI Asia Pacific index rose more than 1% after being pressured by a technology sell-off two days earlier.
Positive sentiment came from Micron, the largest memory chipmaker in the United States, whose shares surged after the market close. The company forecast next-quarter sales that far exceeded Wall Street expectations, driven by strong demand for memory chips used in AI infrastructure. These results signal that demand for data centers, DRAM, NAND, and high-bandwidth memory remains very strong amid the AI investment boom.
Micron's report comes at a crucial time, after the chip and technology sectors were hit by concerns that the AI rally had gone too far. Previously, investors were concerned about the large capital expenditures of technology companies and whether these investments would generate the expected returns. However, Micron's outlook demonstrates that demand for AI chips has not weakened, and supply in some segments remains tight.
Optimism was also fueled by SK Hynix's plan to list its shares in the United States with a target of raising around US$29 billion. SK Hynix shares surged in early Asian trading as investors viewed the South Korean memory company as remaining a key player in the global AI supply chain. Along with Micron and Samsung Electronics, SK Hynix is a key beneficiary of the data center and AI computing boom.
Outside the technology sector, falling oil prices also boosted market sentiment. Brent held below US$74 per barrel after falling sharply in the previous session, as signs of improving global supply and progress in US-Iran peace talks showed. The drop in oil prices helped ease inflation concerns, fueled a rally in US bonds, and lowered Treasury yields. However, the continued strength of the US dollar remains a challenge for Asian currencies, so the market is closely monitoring US PCE inflation data for clues to the Fed's next policy direction. (asd)*
Source: Newsmsker.id
