MSCI Asia Pacific Index Rises 1.1% as OpenAI Optimism Lifts Tech Shares
Updated
Updated · Bloomberg · Sep 7
MSCI Asia Pacific Index Rises 1.1% as OpenAI Optimism Lifts Tech Shares
3 articles · Updated · Bloomberg · Sep 7
Summary
The MSCI Asia Pacific Index climbed 1.1%, led by South Korean chipmakers SK Hynix and Samsung Electronics as technology stocks paced regional gains.
A 3.4% jump in the Philadelphia Semiconductor Index and a 0.2% rise in the Nasdaq 100 on Friday fed the move after investors bet OpenAI's new model could spur demand for AI computing power.
Oil also advanced after the US and Iran exchanged tanker-related attacks in the Strait of Hormuz, adding a geopolitical risk backdrop even as equities rose.