Asian Markets Eye Fourth Straight Day of Gains as Tech Rally Persists

Deep News09-08 12:20

Asian equities are trending upward, poised to close a fourth consecutive session in positive territory. With monetary policy decisions on the horizon, the market lacks clear catalysts beyond artificial intelligence, propelling the technology sector to lead gains across the region.

The MSCI Asia Pacific Index advanced as much as 0.6%, driven primarily by chipmakers SK Hynix, Samsung, and TSMC. South Korea's KOSPI composite index climbed more than 2%, while benchmarks in Singapore, India, and Australia saw declines.

Japan's Topix index retreated as the yen strengthened sharply against the U.S. dollar, exerting downward pressure on export-oriented companies. Josh Gilbert, senior market analyst at eToro, commented: "Chip stocks are carrying the market. Following last quarter's strong earnings reports, demand signals remain robust. Beyond that, most sectors are staying on the sidelines."

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