Stocks rallied across Asia on Thursday, led by technology shares, as investor concerns over the valuations of artificial intelligence firms began to ease.
Shares of Samsung Electronics Co. surged to a fresh record, boosting sentiment in the region’s tech sector.
The MSCI Asia Pacific Index climbed 0.4 per cent, while South Korea’s benchmark KOSPI rose to a new all-time high.
The gains followed a positive session on Wall Street, where the S&P 500 advanced 0.6 per cent and the Nasdaq-100 gained 0.8 per cent on Wednesday.
In currency markets, the Australian dollar strengthened after robust employment data signalled resilience in the country’s labour market. Oil prices steadied after recording their biggest one-day gain since October.
The rebound in technology stocks suggests that fears of disruption in the artificial intelligence space are fading, especially as several investors have identified fresh buying opportunities.
Market sentiment was also lifted by reports that OpenAI is close to finalising the first phase of a new funding round expected to raise more than $100 billion.
“You are seeing that the ability to find growth and opportunity outside of the Mag Seven complex and the AI complex as well, but that’s also on a geographical basis as well,” Chris Weston, head of research at Pepperstone Group Ltd., said in an interview on Bloomberg Television.
Analysts say the shift in sentiment may signal a broader rotation in global equities as investors reassess opportunities beyond the dominant US technology giants.
