Asia stocks rise as tech rally lifts markets

June 04, 2025 (MLN): Asia-Pacific markets advanced Wednesday following a strong tech-driven rally on Wall Street, with South Korean equities leading regional gains.

Nvidia shares surged nearly 3%, extending Monday’s gains and pushing its market capitalization above Microsoft’s for the first time since January.

The rally lifted chipmakers Broadcom and Micron Technology, which rose more than 3% and 4%, respectively.

South Korean stocks jumped as opposition party leader Lee Jae-myung secured a presidential election victory, as CNBC reported.

The Kospi index climbed 2.44% to its highest level since August last year, while the small-cap Kosdaq gained 1.18%.

John Cho, Korea equity portfolio manager at J.P. Morgan Asset Management, highlighted Lee’s pledge to enhance the value of the Korean stock market.

Planned amendments to commercial law will expand board members' duties to include protecting minority shareholders' interests, promoting more value-accretive decisions, Cho said.

Cho expects the new government to implement aggressive fiscal stimulus and adopt a pragmatic approach to international trade.

He sees a domestic economic rebound in 2H 2024 / 1H 2025 and remains optimistic on globally competitive sectors like HBMs for AI, health and beauty, and heavy industries.

Elsewhere in Asia, Japan’s Nikkei 225 rose 0.88%, and the Topix index added 0.57%. Mainland China’s CSI 300 gained 0.43%, and Hong Kong’s Hang Seng Index climbed 0.64%.

Australia’s S&P/ASX 200 increased 0.68%. The country’s economy grew 1.3% year-on-year in Q1 2025, below the 1.5% forecast but unchanged from the previous quarter.

In the U.S., futures were steady after Wall Street gains.

The S&P 500 closed 0.58% higher at 5,970.37, the Dow Jones rose 214.16 points or 0.51% to 42,519.64, and the Nasdaq Composite added 0.81%, ending at 19,398.96, following a robust jobs report.

Copyright Mettis Link News