Asian stocks rally as semiconductors surge, Kospi soars on AI
Asian stock markets had another strong day, mostly thanks to a big jump in semiconductor shares.
The MSCI Asia Pacific index rose 1.2%, following Tuesday's highest one-day gain in a month, while South Korea's Kospi shot up more than 5% on the back of fresh investments in AI and tech.
Oil prices also moved higher, with Brent crude topping $92 a barrel amid renewed U.S.-Iran tensions.
TSMC leads chip rally, yen weakens
Chipmakers are leading the charge: TSMC's shares jumped 5.5% after talk of price hikes, and a key semiconductor index was up 5.2%.
Super Micro Computer saw gains on news of more orders, and Intel's stock got a boost after announcing new job cuts.
Meanwhile, currency moves like the Japanese yen hitting its lowest level since 1986 are keeping things interesting for investors across Asia.