Asian stocks surged on Thursday, driven by strong earnings from AI leader Nvidia. Demand for tech shares rebounded sharply.
Samsung Electronics jumped nearly 8% after a tentative wage deal with its union. The KOSPI index soared 7.9% to 7,777.27 points.
The wage agreement averted an 18-day strike by 48,000 workers. This eased fears over memory chip supply disruptions.
Nvidia posted better-than-expected quarterly results and gave optimistic revenue guidance. This reinforced confidence in sustained AI spending.
Japan's Nikkei rose 3.7%, while the TOPIX added 2.1%. Australia's ASX 200 climbed 1.6% after weak jobs data reduced rate hike risks.
India's Nifty 50 edged up 0.6%, and Singapore's Straits Times Index gained 0.3%.
Chinese markets lagged. The Shanghai Composite was flat, as property sector concerns persisted.
Hong Kong's Hang Seng also traded muted. Easing geopolitical tensions helped sentiment. Some oil tankers resumed passage through the Strait of Hormuz.
Australia's unemployment rate rose to 4.5% in April, the highest since late 2021. This strengthened expectations of a pause in RBA rate hikes.
Japan's exports grew strongly in April. However, the services sector slipped into contraction, highlighting a fragile recovery.
