Business · Markets · 1 hr ago
AI optimism lifts most Asian markets as chip stocks climb
Most Asian stock markets rose on Wednesday, following gains in US shares led by companies linked to artificial intelligence.
South Korea’s Kospi and Japan’s Nikkei advanced, while Hong Kong’s Hang Seng fell.
SK Hynix shares climbed after the South Korean chipmaker reported record operating profit for its latest quarter, beating market estimates.
Samsung shares also rose ahead of the company’s earnings announcement, and other chipmakers gained.
Investors have been weighing whether heavy spending on AI chips and data centers can keep delivering growth, after concerns about its cost pressured the sector earlier this month.
Renewed AI optimism helped lift markets, even as many companies in the S&P 500 fell.
Investors are now watching major tech earnings and the Federal Reserve’s rate decision, both due this week.
Asian shares mostly rose on Wednesday as renewed optimism about artificial intelligence lifted chip stocks and followed gains on Wall Street.
South Korea’s Kospi climbed, with SK Hynix gaining after reporting record quarterly operating profit that beat estimates.
Japan’s Nikkei 225 and Taiwan’s Taiex also advanced, while Hong Kong’s Hang Seng fell.
Investors were watching earnings from major technology companies and an expected Federal Reserve decision to hold interest rates steady.
Market reports differed on the Kospi’s early gain, putting it at 5.6% in AP and 2.6% in the Economic Times.
- Who
- Asian stock markets and technology shares, including chipmakers SK Hynix, Samsung Electronics and Kioxia.
- What
- Most Asian markets rose as AI-related optimism lifted equities. Hong Kong’s Hang Seng fell.
- When
- Wednesday, October 28, 2026.
- Where
- Asian markets, including South Korea, Japan, Taiwan, Hong Kong, Australia and mainland China.
- Why
- Renewed enthusiasm for AI stocks and gains on Wall Street lifted sentiment ahead of technology earnings and the Federal Reserve’s interest-rate decision.
This story does not have two clearly opposing sides.
The S&P 500 rose 0.6% and the Nasdaq composite climbed 1.2% as influential AI stocks helped lift Wall Street.
Asian markets mostly rose as investors weighed AI optimism, technology earnings and the expected Federal Reserve decision.
Samsung Electronics was set to report its third-quarter earnings, and Amazon.com was scheduled to announce earnings.
Kioxia Holdings was due to report quarterly earnings.
- South Korea’s Kospi
- AP reported a 5.6% rise to 5,952.41; Economic Times reported a 2.6% rise.
- SK Hynix operating profit
- 83.3 trillion won ($62.8 billion) for the last quarter, according to AP.
- Japan’s Nikkei 225
- Up 1.3% to 64,094.51.
- Hong Kong’s Hang Seng
- Down 0.7% to 23,041.32.
- Taiwan’s Taiex
- Up 1.8%.
- Federal Reserve decision
- Policymakers were expected to keep rates steady on Wednesday.
4 sources
What people are saying
A wave of AI news sparked a relief rally after three weeks of pressure on the group
offered solace to investors that the large-scale AI firms can, and are proceeding to spend even if smaller firms are under pressure
A hawkish hold seems to be the baseline but we would argue that the market might be underestimating the risks for a hike