Nikkei, Kospi Hit Records as Qualcomm, Micron Lift Global Tech Shares 5%
Updated
Updated · The Associated Press · Jun 25
Nikkei, Kospi Hit Records as Qualcomm, Micron Lift Global Tech Shares 5%
3 articles · Updated · The Associated Press · Jun 25
Summary
Japan’s Nikkei jumped 4.6% to a record 72,366.34 and South Korea’s Kospi surged 5.4% to 8,930.30, extending a global tech rally after upbeat results from Qualcomm and Micron.
Qualcomm rose nearly 7% after hours after lifting its annual revenue forecast to $40 billion from $22 billion and unveiling a Dragonfly data-center chip that Meta plans to use; Micron jumped 18.5% after beating estimates and raising guidance.
Chip suppliers led the regional surge, with Advantest up 15%, Tokyo Electron 7.8%, Samsung Electronics 5.3% and SK Hynix 13%, while S&P 500 futures gained 0.8%.
Oil prices eased as U.S.-Iran talks continued, with Brent down to $73.32 and U.S. crude at $69.88, helping support broader risk appetite even as Hong Kong fell 1.4% and Australia slipped 0.7%.
Investors now await the Fed’s preferred inflation gauge, with economists expecting May PCE to rise 4.1%—a three-year high that could test the durability of the tech-led rebound.