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Tech Surge Propels Asian Markets: Chip Stocks Lead Taiwan’s Remarkable Rally

Tech Surge Asian Markets Chip Stocks

Tech Rally Drives Asian Markets: Taiwan’s Remarkable Surge Fueled by Chip Stocks. Explore the Impact and Upcoming Trends in Tech Stocks

Global Markets Overview

Asian Stock Markets: Nikkei up 1.42%, Shanghai Composite down 0.47%, Hang Seng down 0.84%, ASX up 1.02%

Commodities: Gold at $2028.5 (0.31%), Silver at $22.93 (0.49%), Brent Oil at $79.22 (-0.01%), WTI Oil at $73.97 (-0.05%)

Rates: U.S. 10-year yield at 4.157, U.K. 10-year yield at 3.397, Germany 10-year yield at 2.305

News & Data

  • (USD) Unemployment Claims: 3.7% vs 3.4% expected
  • (USD) Retail Sales m/m: 3.7% vs 3.4% expected

Tech Surge Propels Asian Markets: Chip Stocks Lead Taiwan’s Remarkable Rally

Markets Update

In a noteworthy market development, Taiwan spearheaded a surge in major Asia-Pacific markets on Friday, propelled by a remarkable boost in chip stocks. Notably, Taiwan Semiconductor Manufacturing Corp witnessed a significant 6.63% increase, contributing to the Taiwan Weighted Index’s rise by 2.63%, closing at 17,681.52.

Investor attention also gravitated toward Japan’s December inflation data, revealing a drop in the country’s headline inflation rate to 2.6%, marking its lowest since June 2022. The core inflation rate, excluding fresh food prices, mirrored economist expectations at 2.3%. These figures precede the Bank of Japan’s upcoming two-day monetary policy meeting starting on January 22.

In Japan, the Nikkei 225 rebounded by 1.4%, closing at 35,963.27, following two consecutive days of losses. South Korea’s Kospi gained 1.34%, and Australia’s S&P/ASX 200 reversed a three-day losing streak, climbing 1.02% to close at 7,421.2.

Across the Pacific, the U.S. witnessed a market rebound, with all three major indexes experiencing gains fueled by robust tech stock performance. Apple led the charge with a notable 3.3% surge following a favorable upgrade by Bank of America, marking its best day since May 5, 2023. The Dow Jones Industrial Average rose by 0.54%, the S&P 500 climbed 0.88%, and the Nasdaq Composite posted the most significant gain, 1.35%.

Upcoming Events

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