AI Surge Propels Asian Stocks Amid Economic Optimism
Asian stocks surged on renewed AI momentum, while the dollar edged near a six-week high after robust U.S. economic indicators. Taiwanese chipmaker TSMC's strong performance sparked optimism in tech stocks, though oil prices dipped following President Trump's moderated stance toward Iran. Elsewhere, the yen gained on potential intervention talks.
Asian stocks rallied on Friday as the artificial intelligence wave regained strength, pushing MSCI's broadest index of Asia-Pacific shares outside Japan to a record high. Taiwanese chipmaker TSMC's strong numbers revitalized tech stocks, boosting indices in Taiwan and South Korea to unprecedented levels.
Meanwhile, the dollar lingered near a six-week high on upbeat U.S. economic data that led traders to reassess expectations of a Federal Reserve rate cut. Gains in tech and financial sectors propelled Wall Street higher, with Nasdaq futures climbing during Asian trading.
The oil market continued its downward trajectory as President Trump's comments on Iran eased fears of military conflict and potential supply interruptions. Brent and U.S. crude both saw modest declines, following a significant drop in the prior session.
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