Asian markets surge on renewed AI investment hopes

October 21, 2026 (MLN): Asian markets advanced on Wednesday, led by technology shares in South Korea and Japan, as optimism over SpaceX’s latest quarterly results helped restore investor confidence in artificial intelligence (AI) infrastructure following recent heavy losses.

South Korea’s SK Hynix surged 6.38%, while Samsung Electronics gained 5.03%. Shares of AI infrastructure provider Elice soared 29.92%, recovering sharply after plunging more than 30% during its trading debut on Tuesday, according to CNBC.

The rebound followed concerns over whether substantial investment in AI infrastructure would generate sustainable profits, which had intensified after Elice’s disappointing market debut.

Japanese technology stocks also recorded strong gains. Semiconductor testing equipment maker Advantest climbed 5.31%, Tokyo Electron rose 3.02%, and SoftBank Group advanced 4.70%.

Across the broader Asia-Pacific region, South Korea’s Kospi rose 1.8%, while the technology-focused Kosdaq gained more than 2%. Japan’s Nikkei 225 advanced 1.4%, and the Topix increased 0.93%. Australia’s S&P/ASX 200 remained broadly flat after earlier indications of modest gains.

The positive regional sentiment followed an overnight advance on Wall Street, supported by strong corporate earnings and easing oil prices.

Market futures also pointed to further gains. Nikkei 225 futures traded in Chicago stood at 65,355, while Osaka futures were at 65,210, both above the index’s previous close of 64,075.42.

Meanwhile, Hang Seng Index futures traded at 24,001, compared with the previous close of 23,867.74, while Australia’s S&P/ASX 200 futures indicated a gain of 0.27%.

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