Asian Tech Stocks Rally as SoftBank Jumps 11% on Chipmaker Strength
Updated
Updated · CNBC · Jul 9
Asian Tech Stocks Rally as SoftBank Jumps 11% on Chipmaker Strength
3 articles · Updated · CNBC · Jul 9
Summary
SoftBank surged more than 11% Friday, helping lift Asian technology shares after an overnight chipmaker rally on Wall Street.
South Korea led regional gains: the Kospi jumped over 4.6% and the Kosdaq 5.7%, while Japan's Nikkei 225 rose 2.4% and Samsung Electronics gained 4.3%.
U.S. futures edged lower despite Thursday's cash-session rebound, with S&P 500 futures down 0.12%, Nasdaq 100 futures off 0.18% and the Dow flat.
The earlier U.S. rally was driven by semiconductor strength and easing oil prices after Trump said Iran had called to make a deal, reinforcing bets that earnings can keep powering equities.
Investors next are watching SK Hynix's U.S. debut at a reported $149 ADR price and Delta Air Lines' second-quarter results for clues on whether the rally can broaden beyond tech.