On Thursday (23 July, 9:46 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific exhibited an upward trend on the back of strong gains in semiconductor companies, which saw heightened interest due to ongoing investment in AI infrastructure.
Major chipmakers in South Korea, Samsung Electronics and SK Hynix, saw shares rise more than 2% each as market participants anticipated they would capture a significant portion of global AI capital expenditures.
Despite these gains, investor sentiment remained mixed after Alphabet reported it would increase spending to further AI initiatives, causing its shares to fall around 3% in after-hours trading. Tesla experienced a 4% decline as the company missed earnings projections, while IBM edged lower following a reduction in its full-year target.
Additionally, geopolitical developments remain in focus. President Donald Trump has threatened to target Iranian infrastructure should attacks on vessels in the Strait of Hormuz persist, adding to investor concerns about potential energy disruptions. This has reinforced worries about inflationary pressures and poses additional uncertainty for the Federal Reserve’s monetary policy path.
Japan’s NIKKEI added 0.47% to 66,424.44. South Korea’s KOSPI rose by 1.55% to 6,903.00, and Australia’s ASX 200 surged 0.66% to 8,880.80.
As for stocks in China, Shenzhen’s SZI increased by 0.27% to 14,098.86. Hong Kong’s HSI grew by 0.98% to 25,135.53, while Shanghai’s SSEC dipped by 0.04% to 3,865.48.
The U.S. stock markets edged down on Wednesday as the Dow Jones Industrial Average (DJIA) slid by 0.01% to 52,218.58. NASDAQ dropped by 0.57% to 25,690.90, and S&P 500 contracted by 0.14% to 7,498.96. VIX lost 2.40% to 16.64.
As for commodities, oil prices settled higher on Wednesday as rising tensions between the United States and Iran fueled anxiety over supply disruptions. The ongoing conflict, combined with increased threats to maritime trade from the Houthi militia in Yemen, further propelled prices upward. Brent crude futures advanced $3.06, marking a 3.36% rise to $94.07 per barrel. U.S. West Texas Intermediate crude ended the session $2.49 higher, up 2.95% at $86.83 a barrel.
This morning, Brent futures were up $1.85, or 1.97%, to $95.92 per barrel, and the WTI futures gained $1.35, or 1.55%, to $88.18 per barrel.
Meanwhile, gold futures declined by 0.81% to $4,118.30 per Troy ounce.
