Alphabet Drives Nasdaq 2% Rally as Kospi Climbs 3%
Seoul’s Kospi jumped 3% to a record high as SK hynix and Samsung led a regional rally, bolstering tech sentiment. The Nasdaq Composite climbed almost 2%, driven by Alphabet, as oil prices slid on renewed tanker traffic through the Strait of Hormuz.
1. Tech Stocks Drive U.S. Market Gains
The Nasdaq Composite surged nearly 2% as major tech names provided strong support. Alphabet, Amazon and Nvidia led the advance, reflecting renewed investor appetite for high-growth sectors after recent consolidation.
2. South Korea Leads Asian Rally
Seoul's Kospi Index soared 3% to an all-time high, led by chipmakers SK hynix and Samsung Electronics. The AI hardware boom and robust export outlook fueled the rally across regional equity markets.
3. Strait of Hormuz Reopens, Oil Tumbles
American forces lifted their naval blockade of Iranian ports following a U.S.-Iran memorandum of understanding, allowing tankers to resume transit. Crude prices extended losses as shipping resumed, though full supply normalization may take time.
4. Market Outlook Shifts Back to Fundamentals
With geopolitical risks easing, investors are expected to refocus on economic data and corporate earnings. The shift could increase market sensitivity to upcoming releases on inflation, employment and company performance.
