Asian markets climbed as Wall Street set new records, driven by enthusiasm for artificial intelligence technology, which continued to push stocks higher.
In Tokyo, the Nikkei 225 index rose by 0.9% to 38,841.75. The Hang Seng in Hong Kong gained 0.8% to 18,569.48, and the Shanghai Composite index increased by 0.1% to 3,068.31.
This surge followed the S&P 500’s 1.2% rise on Wednesday to 5,354.03, reaching its all-time high set two weeks ago. The Nasdaq Composite jumped 2% to 17,187.90, also setting a record. The Dow Jones Industrial Average, with less focus on technology, trailed with a 0.2% gain to 38,807.33.
The rally propelled Nvidia’s market value above $3 trillion for the first time, surpassing Apple as the world’s second-largest company. Nvidia’s chips are central to the AI boom, leading its stock to climb another 5.2%, bringing its yearly gain to over 147%.
Elsewhere, Australia’s S&P/ASX 200 rose 0.7% to 7,824.40 after the Australian Bureau of Statistics reported a rebound in the country’s trading surplus in April, with exports falling 2.5% and imports dropping 7.2%.
Taiwan’s Taiex surged 2% as shares of contract electronics maker Foxconn jumped 0.6% following a 22.1% year-on-year revenue increase in May, a record high for the month. In Bangkok, the SET rose 0.4%.
South Korea’s markets were closed for a holiday.
