Global Stocks Rise as Chip ETF Jumps 4% and Brent Tops $90
Updated
Updated · Bloomberg · Jul 21
Global Stocks Rise as Chip ETF Jumps 4% and Brent Tops $90
3 articles · Updated · Bloomberg · Jul 21
Summary
Nasdaq 100 futures rose 1.3% and S&P 500 contracts gained 0.4% as dip buyers extended a rebound in chipmakers, lifting global equities.
A closely watched chip-stock ETF climbed 4% in premarket trading, reinforcing the tech-led recovery after recent AI-linked selloffs.
South Korea and Taiwan export data added fuel in Asia, boosting Samsung Electronics and Taiwan Semiconductor Manufacturing and helping tech outperform in Europe as well.
Brent crude still topped $90 a barrel as the US and Iran exchanged strikes for a 10th straight day, leaving a geopolitical risk backdrop under the market rebound.
AI chip stocks are posting record profits. Is this a historic tech revolution or a massive bubble about to burst?
With military strikes and blockades in the Middle East, why are oil prices falling and what are traders ignoring?
As AI devours the world's memory chips, what will happen to the cost and supply of cars, phones, and appliances?
July 2026 Asian Market Rebound: Kospi’s 7% Jump, AI-Driven Volatility, and Geopolitical Headwinds
Overview
In mid-July 2026, Asian markets, especially in Japan and South Korea, saw a strong recovery known as a 'revenge surge.' On July 15, South Korea's Kospi index jumped 7% as a broad short squeeze lifted key technology and semiconductor stocks. Leading this rally were major companies like SK Hynix, Samsung, Kioxia, and SoftBank. SK Hynix stood out, with its shares rising over 9% and its newly listed Nasdaq depository receipts soaring 27% overnight. This surge was fueled by strong investor interest and positive analyst coverage, highlighting renewed confidence in the region's tech sector.