Asian markets faced a significant increase on Wednesday led by South Korea and Japan. This growth was particularly influenced by the improvement in the performance of technology companies and the positive outlook of upcoming financial reports. Investors were hopeful for strong financial reports, which led to an increase in the stock prices of major companies in this sector.
Stock Price Increases in South Korea and Japan
In South Korea, major companies like SK hynix and Samsung each saw an increase of over 7%. In Japan, companies such as Kioxia, Advantest, and SoftBank also experienced price increases ranging from 2% to 4%. This comes after these companies faced pressure since the beginning of last week.
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The South Korean stock index (Kospi) rose by over 4%, and the Tokyo Stock Exchange also increased by more than 1%. Other Asian markets, including Hong Kong, Singapore, Wellington, Manila, and Jakarta, also saw increases. Meanwhile, the Sydney stock market faced a decline, where data center developer NEXTDC dropped by over 40% after it downgraded its outlook and revised its capital expenditure plans.
Financial Reports and Their Impact on the Market
Positive sentiment in the market is attributed to SpaceX's first-quarter financial report, which announced its first profit since going public. The company reported a net profit of $4.4 billion for the July to September period, more than double expectations, compared to a loss of $1.1 billion last year. The company's AI unit revenue also saw a significant increase, reaching $14.6 billion.
Additionally, Super Micro Computer also reported its projected revenue above expectations. Analysts believe these results could alleviate concerns about the AI boom. Market attention is focused on the financial reports of Tesla and Meta, which will be released on Wednesday.
In the oil market, prices increased by over 1%. In this context, the UK Maritime Trade Operations Agency (UKMTO) reported that a tanker in northern Qatar was targeted by several shots. This incident occurred about 500 kilometers from the Strait of Hormuz, where Iran has blocked maritime transport since the onset of the war in the Middle East in late February.
Brent crude prices rose by 1.4% to $110.25 per barrel, while West Texas Intermediate crude increased by 1.3% to $99.12.
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