SK Hynix and Samsung Electronics lift KOSPI 1% on AI
Asian chip stocks got a boost, with investors piling in thanks to the buzz around artificial intelligence. SK Hynix and Samsung Electronics led the charge, helping South Korea's KOSPI index climb 1%.
The MSCI Asia Pacific Index also edged up, echoing gains seen in US semiconductor markets.
Meanwhile, oil prices hit their highest level in two months after a US strike on Iranian tankers raised fears of supply disruptions.
Rising energy prices fuel Fed concerns
Rising energy prices are making inflation worries worse, something the US Federal Reserve will have to wrestle with at its big meeting next week.
With Iran's conflict dragging on and fears of deeper disruptions through the Strait of Hormuz, investors will be watching Friday's US consumer price report for clues about where rates might go next.