Asia markets rally on tech optimism

May 29, 2026 (MLN): Asian equity markets closed higher on Friday as investors monitored escalating military developments involving Iran alongside growing optimism over a possible temporary truce between Tehran and Washington after months of conflict.

Japan’s benchmark indices advanced, with the Nikkei 225 gaining 0.88% and the TOPIX rising 0.53%. In South Korea, the KOSPI surged 2.68%, while the small-cap KOSDAQ edged up 0.25%, according to CNBC.

Shares of Samsung Electronics climbed as much as 6.5% after the company declared it had started supplying samples of its next-generation high-bandwidth memory chips to customers worldwide, boosting sentiment around semiconductor and AI-related stocks.

Australia’s S&P/ASX 200 advanced 0.72%, while Hong Kong’s Hang Seng Index added 0.68%. Mainland Chinese equities also moved higher, with the CSI 300 gaining 0.38%.

Investor sentiment remained sensitive to geopolitical developments in the Middle East after Iranian state media reported that the country’s armed forces launched missiles toward unspecified targets late Thursday.

The developments followed statements from the Pentagon alleging that Iran had fired a ballistic missile toward Kuwait and deployed attack drones near the Strait of Hormuz.

Despite the tensions, markets found support after reports emerged that the White House and Tehran were close to finalizing the framework of a temporary agreement aimed at pausing the three-month conflict.

Meanwhile, U.S. stock futures traded little changed after Wall Street benchmarks ended Thursday’s session at record closing levels, supported by a strong rally in technology shares.

The S&P 500 rose 0.58% to close at 7,563.63, while the Nasdaq Composite gained 0.91% to settle at 26,917.47, with both indices also touching fresh intraday highs. The Dow Jones Industrial Average edged up 0.05% to 50,668.97.

Technology stocks led gains after upbeat guidance from Snowflake reignited enthusiasm surrounding artificial intelligence-related investments.

The company’s shares jumped 36.5% after it issued stronger-than-expected quarterly guidance, surpassed analyst estimates, and unveiled plans to spend $6 billion on Amazon Web Services infrastructure over the next five years.

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