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Asia Tech Stocks Reach Records on AI Surge as Gulf Violence Raises Oil Risk

Heavy chip exports and rising AI demand are lifting Asian markets even as recent U.S.-Iran strikes have squeezed shipping and pushed oil higher.

A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, June 1, 2026. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, June 1, 2026. (AP Photo/Ahn Young-joon)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, June 1, 2026. (AP Photo/Ahn Young-joon)
FILE PHOTO: An NVIDIA logo and a computer motherboard appear in this illustration taken August 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

Overview

  • Asian benchmarks in Japan and South Korea hit fresh record highs on Monday driven by strong gains in AI and semiconductor stocks, with Samsung jumping about 9–10 percent and the Nikkei crossing 67,000.
  • South Korea reported a roughly 53 percent year-on-year increase in May exports, led by a 169 percent rise in semiconductors and a 291 percent jump in computers, showing real demand behind the rally.
  • Over the weekend U.S. forces and Iran exchanged strikes, Kuwait intercepted missile and drone attacks, and Defence Secretary Hegseth warned the U.S. could resume strikes if no deal is reached, reviving supply worries.
  • Traffic through the Strait of Hormuz has collapsed to only a handful of outbound vessels compared with the pre-war daily average, and Brent crude rose about 2–3 percent to roughly $93 as markets priced in tighter oil flows.
  • Key near-term risks to watch are President Trump’s decision on a proposed 60-day ceasefire extension, Jensen Huang’s Computex address and further shipping or military incidents that could push oil and trade disruption higher.