Asian Markets Rally as AI Optimism Lifts Technology Shares

2026, October 28

South Korea / United States / New Zealand / International

Asian stock markets advanced following gains on Wall Street, with South Korea’s Kospi climbing 6.6% as technology shares surged. SK Hynix jumped 10.9% after reporting strong quarterly results and forecasting continued demand for artificial-intelligence memory chips. Meanwhile, US investors awaited the Federal Reserve’s latest interest-rate decision, with markets focused on inflation and the outlook for borrowing costs.

Currency markets experienced turbulence after the Reserve Bank of New Zealand unexpectedly held its benchmark interest rate at 2.75%, sending the New Zealand dollar down as much as 1.7%. Oil prices also rose amid renewed concerns about energy supplies following an attack on a Saudi refinery. Investors are weighing the potential benefits of AI-driven growth against high financing costs and persistent inflation risks.