Strong Micron Technology results drive a chip sector surge, lifting Asian tech indexes despite broader Wall Street declines.
Asian markets showed sharp divergence Thursday after Micron Technology’s robust earnings report ignited a chip sector rally. Tokyo’s Nikkei and Seoul’s KOSPI surged on AI-driven optimism, offsetting losses in U.S. tech stocks overnight.
The rally followed Micron’s better-than-expected results, which underscored strong demand for AI-related memory chips. While Wall Street’s tech-heavy indexes retreated, Asian tech hubs capitalized on the sector’s momentum, with semiconductor stocks leading gains.
Investors focused on the disconnect between regional performances, as U.S. tech weakness contrasted with Asia’s resilience. The shift highlighted growing confidence in AI infrastructure demand across global markets.