Asian tech stocks surge as Iran-U.S. peace deal boosts investor sentiment; SoftBank leads with 12% gain
By
Justina Lee
8h ago· 2 min readenNews
75/100
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Summary
Asian tech stocks surged on Monday following news of a peace deal between Iran and the U.S., ending the Middle East conflict. SoftBank led gains with a 12% rise, followed by Tokyo Electron (9.19%), Advantest (7.69%), Samsung Electronics (4.65%), SK Hynix (6.42%), TSMC (2.16%), and Foxconn (2.5%). The market rally reflects investor optimism over reduced geopolitical tensions.
Key quotes
· 5 pulledAsian tech stocks surged Monday, as investors cheer news that Iran and the U.S. have reached a deal to end the Middle East conflict.
Japanese tech investor SoftBank was the best performer among major tech stocks in Asia, rising over 12%.
Tokyo Electron and Advantest added 9.19% and 7.69% respectively.
Memory chip behemoths and heavyweights on South Korea's Kospi Index, Samsung Electronics and SK Hynix gained 4.65% and 6.42%, respectively.
Taiwan Semiconductor Manufacturing Co, or TSMC rose 2.16%, while Hon Hai Precision, also known as Foxconn, added 2.5%.
Asian tech stocks surged Monday on news that Iran and the U.S. have reached a peace deal