Asian markets rally, tech stocks lead regional gains

August 05, 2026 (MLN): Asian technology stocks rallied on Wednesday, tracking a strong overnight advance on Wall Street as upbeat corporate earnings and falling oil prices lifted investor sentiment.

Japan led regional gains, with SoftBank Group soaring more than 10%. Chip-related shares also advanced sharply, as Advantest climbed 7%, Kioxia gained 6.34%, and Tokyo Electron rose 3.64%.

South Korean technology stocks also posted strong gains. SK Hynix jumped 6.9%, Samsung Electronics added more than 4%, while Seoul Semiconductor advanced 7.6%, according to CNBC.

The rally followed a powerful session in the United States, where technology stocks drove major indexes to record highs. Market optimism was fueled by stronger-than-expected corporate earnings and easing oil prices, which improved sentiment toward growth-oriented sectors.

Andrew Jackson, strategist at Ortus Advisors, said the latest surge in U.S. semiconductor stocks strengthened the positive outlook for Asian artificial intelligence-related companies. He noted that chipmakers and AI infrastructure suppliers benefited from renewed investor confidence.

Jackson also expects SoftBank to build on its gains after Arm Holdings, the group's majority-owned chip design subsidiary, rallied overnight on expectations of higher AI-driven data center royalty income and progress in central processing unit development.

On Wall Street, the S&P 500 and the Dow Jones Industrial Average closed at fresh record highs on Tuesday, while the Nasdaq Composite surged 2.59% to 26,584.99. Palantir Technologies was among the top performers, jumping more than 29%.

Investor sentiment also improved after U.S. Treasury Secretary Scott Bessent said Washington and Tehran could reach an agreement within days to reopen the Strait of Hormuz, raising hopes of improved global energy supplies and contributing to lower oil prices.

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