Asian stocks rise as chipmakers rally and softer U.S. inflation lifts rate hopes

  • Asian stocks rose as chipmakers advanced after Micron Technology’s revenue forecast.
  • 2.5% was the Nikkei 225’s gain, led by Japanese semiconductor-related shares.
  • South Korean exports jumped 83.5% year over year as semiconductor shipments reached a record high.

Asian stocks were mostly higher Thursday, led by Japanese chipmakers after Micron Technology forecast first-quarter revenue above analysts’ estimates, reinforcing expectations that artificial intelligence demand will support memory-chip sales. The Nikkei 225 jumped 2.5%, while Advantest rose nearly 8%, Kioxia gained 4.2% and Tokyo Electron climbed about 5%. South Korea’s KOSPI rose 0.9% as exports surged 83.5% year over year and semiconductor shipments reached a record high. Taiwan’s Weighted index gained 0.3%, with TSMC up 1%. U.S. stock index futures also advanced, led by Nasdaq futures, after Wall Street closed mixed. Softer U.S. inflation data eased pressure on the Federal Reserve to raise rates again in October: the PCE price index rose 0.3% in August, below the 0.4% forecast, while annual PCE inflation was 2.6% and monthly core inflation rose 0.2%. Gains were limited by elevated bond yields and oil prices, with Brent crude near $100 a barrel amid stalled U.S.-Iran talks and concerns about prolonged Middle East supply disruptions. Australia’s S&P/ASX 200 fell 2% after its August trade surplus narrowed sharply, while Indian stocks edged lower and Singapore traded largely flat. Chinese mainland markets were closed through Oct. 7 and will resume trading Oct. 8; Hong Kong also shut Thursday.

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