Global markets are experiencing a significant rally. Following gains across Asia-Pacific markets, U.S. stock futures have surged, with Nasdaq futures rising over 1%, Dow futures up 0.67%, and S&P 500 futures increasing 0.76%. European markets opened sharply higher, with Germany's DAX index climbing over 3%, France's CAC 40 up more than 2%, and the UK's FTSE 100 gaining 1.78%.
In Asia-Pacific trading, markets opened strong and maintained momentum. At the close, South Korea's Kospi index soared 8.4%, while Japan's Nikkei 225 rose over 5%. China's Shanghai Composite advanced nearly 1.5%, the Shenzhen Component Index increased 1.7%, and the ChiNext Index gained almost 2%. Memory chip stocks led the gains significantly. In South Korea, Samsung Electronics surged over 13% and SK Hynix jumped more than 10%. Japanese shares of Kioxia rose over 14% and Advantest increased more than 10%. A-shares related to memory chips also saw collective strength, with Zhongjing Electronic and Baicheng Shares hitting the daily limit, Juguang Technology rising over 12%, and GigaDevice, Hua Hong Company, Jingzhida, and Shenkeda all posting solid gains.
The memory chip sector benefited from three key positive developments. First, both U.S. President Trump and Iranian officials expressed willingness to end the Middle East conflict, shifting market focus back to the memory chip industry's own growth cycle. Second, latest data shows South Korea's chip exports continued to surge in March, indicating strong global demand for memory chips remains intact. Third, OpenAI completed a $122 billion funding round, exceeding the previously announced $110 billion. These funds will support OpenAI's massive data center construction, further boosting demand for memory chips.
Memory chip stocks, which had faced recent pressure, staged a powerful rebound. By the close, Samsung Electronics surged 13.43% and SK Hynix gained 10.66% in South Korea, while Kioxia advanced 14.26% and Advantest rose 10.67% in Japan.
Driven by chip stocks, South Korea's Kospi index at one point surged 9%. The Korean market had previously declined for four consecutive days, with major indices hovering near bear market territory. Market sentiment improved globally after President Trump indicated the Iran conflict could conclude within two to three weeks. The White House announced Trump will deliver a speech updating the situation regarding Iran.
Eugene Asset Management Chief Investment Officer Ha SeokKeun stated the Korean market rise reflects "a global shift in risk appetite driven by the U.S. stock rebound, with tech stock gains boosting Korean shares." Additionally, technical rebounds from short-term oversold conditions triggered short covering and bargain hunting.
Data released Wednesday showed South Korea's exports continued strong growth in March, with robust chip demand helping maintain economic resilience despite external risks from the Iran conflict. March exports totaled $86.13 billion, up 48.3% year-over-year, surpassing $80 billion for the first time. Imports increased 13.2% to $60.4 billion, resulting in a trade surplus of $25.74 billion.
Semiconductor exports surged 151.4% to $32.83 billion, breaking the $30 billion barrier for the first time and setting a new record. South Korea's Ministry of Trade, Industry and Energy attributed the strong chip performance to high memory chip prices and sustained global demand driven by massive investments in AI data centers.
The latest data indicates South Korea's export engine continues operating at high speed despite growing headwinds from soaring energy prices and geopolitical uncertainties.
Another positive development for memory chips came from AI leader OpenAI, which announced completion of a record funding round with a post-money valuation of $852 billion. The total raised reached $122 billion, exceeding the $110 billion figure disclosed in February. OpenAI stated the round was led by strategic partners Amazon, Nvidia, and SoftBank, with funds earmarked for supporting massive data center construction.
The additional $12 billion capital came from a broader investor base. OpenAI noted this marked the first time bank channels were opened to investors, with $3 billion raised from individual investors. The company stated such moments are rare and that capital invested today is helping build infrastructure for intelligence itself, with value eventually flowing back to benefit businesses, communities, and individuals.
Growing investor expectations that the Iran conflict may be nearing conclusion have boosted market risk appetite. According to reports, Iran's Foreign Ministry spokesperson stated Iran has conveyed its position on "the war imposed on Iran" to mediators. Foreign Minister Araghchi confirmed receiving a "private message" from President Trump's envoy Wittkoff, but clarified this doesn't constitute negotiations.
The U.S. Secretary of State stated America sees a "finish line" for the Iran conflict, indicating resolution could come soon though not immediately. The Secretary noted U.S. forces have largely destroyed Iran's air force and navy, are progressing toward destroying significant missile launchers, and are working to dismantle Iran's defense industry infrastructure for drones and missiles.
President Trump earlier suggested military operations could end within two to three weeks, stating "we will be leaving soon." The White House announced Trump will deliver a national address providing an important update on Iran.
Separately, FIFA President Infantino confirmed Iran will participate as scheduled in World Cup matches in the United States this June despite ongoing armed conflict between Iran and the co-host nation. Infantino pledged full support for the Iranian team. Iran is scheduled to play all Group G matches in the U.S., with two in Los Angeles and one in Seattle. Iran's football association had sought to move matches to Mexico, while Iran's sports ministry currently prohibits national teams from traveling to countries deemed hostile. Mexican President Sheinbaum expressed willingness to host Iran's matches if FIFA agrees, but Infantino confirmed matches will proceed at originally scheduled venues.
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