US equities just wrapped up their strongest quarter since Q2 2020, and Asian markets are waking up hungry for seconds. The S&P 500 climbed more than 14% in the second quarter of 2026, while the Nasdaq posted an even more eye-popping gain of approximately 20%.
The driving force behind this rally has a very specific name: semiconductors. The Philadelphia Semiconductor Index is on track for its best quarter on record, fueled by insatiable demand for AI chips and memory products. That momentum is now crossing the Pacific.
Asia’s chip giants ride the wave
South Korea’s Kospi and Taiwan’s Taiex are positioned to open higher Wednesday, buoyed by the same forces that powered Wall Street’s run.
TSMC shares surged 55.5% in the first half of 2026. That performance helped push the Taiex index to a staggering 59.3% gain over the same period.
