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<Asia> Asian Markets Rally: South Korean Stocks Lead with Over 7% Gain; Samsung Electronics Surges Over 11%; Nikkei and Taiwan Stocks Each Rise Over 4%
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Reports suggest that the US and Iran are interested in ending hostilities, leading to a significant rise in US stocks overnight (31st). Asian markets generally performed well today (1st), with notable gains in Taiwan, Japan, and South Korea, benefiting from the rise in semiconductor stocks. The People's Bank of China conducted a seven-day reverse repo operation, with a net withdrawal of RMB78 billion in a single day. Mainland China's March RatingDog Manufacturing PMI fell to 50.8, below expectations. The Shanghai Composite Index rose by 52 points or 1.4% at midday, closing at 3,944 points; the Shenzhen Component Index increased by 161 points or 1.2%, closing at 13,640 points. The Hong Kong HSI rose by 488 points or 2% at midday, closing at 25,276 points, with a turnover of HKD144.5 billion. Taiwan's weighted index surged by 1,354 points or 4.3%, closing at 33,077 points. TSMC plans to start mass production of 3-nanometer chips in Japan by 2028, with its stock price rising by 4.8%. Hon Hai rose by 4.5%, Delta Electronics by 6.5%, and ASE Technology by 9.9%. Taiwan's three major shipping stocks, Evergreen, Wan Hai, and Yang Ming, rose between 1.5% and 3.4%. Japan's large manufacturing and non-manufacturing Tankan indices exceeded expectations, with the Nikkei Index rising by 2,315 points or 4.5% in the afternoon, closing at 53,379 points. Advantest and Kioxia rose by 10.1% and 12.6%, respectively, while Renesas Electronics, SoftBank, and Tokyo Electron rose between 4.7% and 5.3%. Japan's three major shipping stocks showed mixed results, with Kawasaki Kisen and Nippon Yusen each rising over 2%, while Mitsui O.S.K. Lines fell by 1%. South Korea's March exports rose by 48% YoY, exceeding expectations, with the KOSPI rising by 387 points or 7.7%, closing at 5,440 points. Samsung Electronics rose by 11.5%, SK Hynix by 9.5%, Hyundai Motor and Doosan Enerbility by 8.9% and 8%, respectively. HMM rose by 3.1%. India's Nifty 50 Index rose by 532 points or 2.4%, closing at 22,863 points. Low-cost carrier IndiGo rose by 9.3%, while Tata Group's retail arm Trent rose by 6.7%. Adani Group's Adani Enterprises and Adani Ports and Special Economic Zone rose by 5.7% and 5.4%, respectively. Australia's S&P/ASX 200 Index rose by 167 points or 2% at the close, closing at 8,649 points. Mining stocks Rio Tinto and BHP rose by 3.9% and 4.7%, respectively, while gold mining stock Newmont rose by 4%. New Zealand's NZX 50 Index fell by 86 points or 0.7% at the close, closing at 12,825 points. Dairy stock a2 Milk fell by 3.5%, while renewable energy stock Infratil also fell by 3%. Singapore's Straits Times Index rose by 89 points or 1.8%, closing at 4,974 points. DBS and UOB rose by 1.1%, OCBC by 2%, Keppel Corp and SGX by 2.5% and 2.2%, respectively, while ST Engineering rose by 2.8%. Malaysia and Thailand's stock markets rose by 0.9% and 1.2%, respectively, while Indonesia and the Philippines' stock markets rose by 1.6% and 1.7%. Vietnam's Hanoi and Ho Chi Minh stock markets rose by 0.7% and 1.8%, respectively. (fc/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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