Most Asian stock markets advanced on Thursday, lifted by gains in technology shares after Nvidia (NASDAQ:NVDA) surged past a $4 trillion valuation. However, sentiment remained fragile as investors weighed the impact of U.S. President Donald Trump's latest trade tariffs.
Japan’s Nikkei 225 fell 0.5% and the TOPIX index dropped 0.8%, lagging regional peers after Trump imposed a 25% tariff on Japanese imports earlier this week. Talks between Tokyo and Washington have reportedly stalled, with Japan continuing to seek exemptions from the sweeping tariffs.
Despite a strong tech rally on Wall Street—led by Nvidia, which helped push the NASDAQ Composite to a fresh record—S&P 500 Futures slipped 0.2% in Asian trading as traders digested the latest escalation in trade rhetoric.
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South Korea’s KOSPI led the region, jumping 0.8%, powered by gains in chipmakers. SK Hynix (KS:000660) climbed 3.2% after rival Samsung Electronics warned of a steep 2024 profit slump, signaling more demand for SK Hynix’s high-bandwidth memory chips used in Nvidia systems.
The Bank of Korea held interest rates steady as expected and left the door open for further easing, citing economic headwinds—particularly from global trade tensions.
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Hang Seng Index (Hong Kong): Up 0.4%, tech stocks in focus
Shanghai Composite (China): Rose 0.3%, aided by stable inflation data
ASX 200 (Australia): Flat, as copper tariff weighs on mining sentiment
Straits Times Index (Singapore): Gained 0.5% amid financial sector strength
Asian stocks drew strength from tech momentum but faced resistance as Trump’s tariff agenda intensified. With semiconductors in focus and rate decisions looming, investors are keeping a close eye on geopolitical developments and central bank policy paths.
