Asian tech stocks surge on SK hynix earnings and AI optimism
According to Euronews, Asian technology shares surged on 22 October after SK hynix reported a 632% jump in operating profit, reviving confidence in AI-related firms ahead of major U. S. tech earnings and a Federal Reserve policy decision, lifting regional indices across the continent. Earlier in the week, the filing of an initial public offering by AI start-up Anthropic sparked broad market optimism. Investor's Business Daily noted that the Dow Jones Industrial Average rose on while oil prices fell, and Upstox reported the Dow gained more than 200 points as the S&P 500 and Nasdaq 100 each rose about 0. 4%.
The Australian S&P/ASX 200 slipped 0. 4% after the news, according to The Age, while London’s FTSE 100 fell amid high oil prices, City AM said. Reuters later said U. S. stocks edged higher as oil eased and investors awaited the Fed’s policy meeting, and Asian markets climbed on renewed AI enthusiasm, with the dollar near a two-week high, as reported by Reuters. Al Jazeera added that global equities rose led by AI-focused technology companies.
