Asian equities kicked off the week with broad gains on June 1, powered by a seemingly insatiable appetite for AI-related chips. Japan’s Nikkei climbed 0.5%, South Korea’s KOSPI added 1.3%, and the MSCI Asia-Pacific ex-Japan index edged up 0.2%.
Meanwhile, oil prices pushed higher on renewed fears about supply disruptions through the Strait of Hormuz, the narrow chokepoint that handles roughly a fifth of the world’s petroleum traffic.
The AI trade keeps compounding
The Nikkei gained nearly 5% in the prior week. The KOSPI surged 8%. Taiwan’s benchmark added nearly 6%.
Samsung and SK Hynix are both approaching $1 trillion valuations, propelled by strong earnings and escalating investment commitments from AI-focused firms.
