Asian shares were mostly higher in early Thursday trading, with South Korea's Kospi leading gains at 3.9% to 6,835.55, as investor sentiment tracked overnight Wall Street gains fueled by stronger-than-expected AI sector earnings and a report showing US inflation was slightly lower last month.
Asian shares mostly gain in early Thursday trading on AI and semiconductor optimism
Asian shares were mostly higher in early Thursday trading, with South Korea's Kospi leading gains at 3.9% to 6,835.55, as investor sentiment tracked overnight Wall Street gains fueled by stronger-than-expected AI sector earnings and a report showing US inflation was slightly lower last month.
Japan's Nikkei 225 rose 1.6% in early trading to 68,609.92. Australia's S&P/ASX 200 fell 0.6% to 9,155.80. Hong Kong's Hang Seng edged up nearly 0.1% to 25,453.45, and China's Shanghai Composite gained 0.4% to 3,961.82.
On Wall Street the previous session, the S&P 500 rose 0.3%, recording its first gain since setting an all-time high on Friday. The Dow Jones Industrial Average dipped 21 points, or less than 0.1%, while the Nasdaq composite climbed 0.5%. The S&P 500 finished just short of a record.
Several AI stocks reported better-than-expected profit growth for the spring quarter, according to the source. Strong earnings bolstered investor confidence that these companies can continue delivering growth sufficient to justify the price gains their shares have already made.
AI stocks had been under pressure following earlier record highs, with investors questioning whether large spending on AI infrastructure was generating enough profit and productivity gains to be warranted. Better earnings reports represented a partial restoration of confidence, with implications for continued demand for semiconductors and other AI-related infrastructure.
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- The specific AI companies that reported stronger-than-expected earnings are not named in the source.
- The exact US inflation figures cited in the referenced report are not provided in the source.
- The date of early Thursday trading is not specified due to unfilled timestamp placeholders in the source.
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