Stock Index

South Korea’s KOSPI surged 3.05% at the open on Thursday, as Alphabet’s stronger-than-expected AI-driven cloud results and higher capex outlook reinforced expectations for faster global AI infrastructure spending. Tech heavyweights including Samsung Electronics and SK hynix led the gains. Oil prices rose as Middle East tensions escalated after the United States carried out its 12th strike on Iran, but the tech-led market theme in Seoul remained intact. The won strengthened by 4.2 won against the dollar.

European shares rose on Wednesday, with the Stoxx 600 up 0.58%, as weaker-than-expected UK inflation data and a run of upbeat corporate earnings lifted sentiment. The UK’s FTSE 100 gained 1.24%, while Germany’s DAX rose 0.58% and France’s CAC 40 added 0.89%. Oil prices climbed amid escalating U.S.-Iran tensions, but the move did not derail broader gains. Airbus, Gea Group and Fresnillo were among the stocks supported by company updates and results.

Asian equities extended gains for a second session, with the MSCI Asia Pacific Index up 0.8% and South Korea’s Kospi jumping more than 5%. The move followed the Nasdaq 100’s best session in three weeks as a key semiconductor gauge surged 5.2%, helping offset worries tied to firmer oil prices. Brent rose 0.6% to $91.52 a barrel and gold traded above $4,080 an ounce.

U.S. stocks closed higher on Tuesday, led by a 1.29% gain in the Nasdaq, while the S&P 500 rose 0.89% and the Dow added 0.74%. The Philadelphia SE Semiconductor Index jumped 5.2% for a second straight session, lifting chipmakers including SanDisk (+14.3%), Micron (+12.2%) and Western Digital (+12.5%). Attention is now turning to upcoming earnings from major tech names such as Alphabet, Intel and Texas Instruments.

U.S. stocks closed higher on Tuesday, led by the Nasdaq 100 Index up 1.93% as the iShares Semiconductor ETF (SOXX) rose more than 5%. Chipmakers and AI infrastructure shares rebounded as investors assessed an earnings season in which 91% of S&P 500 companies reporting Q2 results have topped estimates so far, according to Bloomberg-compiled data. Oil prices climbed more than 2% to a five-week high amid a 10th straight day of U.S.-Iran strikes, lifting bond yields and adding to shipping risk around the Persian Gulf and the Red Sea.

Shares of major Indian private lenders fell after their first-quarter results showed net interest margins narrowing and profitability under pressure. Axis Bank and HDFC Bank led the declines, while the Nifty Private Bank index sank 2.3% and Bank Nifty fell 1%. The weakness dragged the Nifty 50 down 0.4%. Investors are increasingly pricing in continued margin compression and a potential reassessment of valuations.

India’s Bank Nifty index fell 1.6% on June 20 after quarterly results from major private lenders pushed HDFC Bank and Axis Bank down 5% each. Investors focused on concerns that net interest margins are narrowing. ICICI Bank’s earnings beat expectations, highlighting divergence within the sector. The index traded at 57,578.25 during the session, near the 20-day moving average support level of 57,800.

Nifty FMCG and Nifty Metal remain below their 10-day simple moving averages but are hovering near key technical support levels at 48,100 and 12,100, respectively, with indicators such as hammer candles and MACD exhaustion pointing to a possible reversal. Foreign institutional investors’ short positions stood at 10.25% on Friday and rose 14% week-on-week, suggesting short covering may be starting. By contrast, IT and Nifty Bank are holding above their 10-day averages, signalling relative strength versus the lagging sectors.

From July 1 to 16, foreign investors net sold $8.1 billion of South Korean stocks as the KOSPI fell 19.6%. Over the same period, they net bought $399 million in South Korea-listed equity ETFs, concentrating on leveraged and inverse products tied to the KOSPI 200 as well as semiconductor-themed ETFs. Samsung Electronics leveraged ETFs saw net inflows, while SK Hynix leveraged ETFs posted sizable net outflows. The positioning has been interpreted as volatility-hedging rebalancing rather than a one-way bearish bet.

The S&P 500, Nasdaq 100 and Dow have pulled back more than 5% from their year-to-date highs, even as bank and technology earnings come in strong and the odds of a Federal Reserve rate hike ease. Selling pressure has been led by a broad AI-related retreat after Moonshot released its Kimi K3 model, stoking concerns about whether U.S. leaders are still ahead. Hardware-linked names such as Micron and Nvidia have fallen more than 20% from their year-to-date highs, while a weak Netflix report added to the risk-off tone.