Asian stocks climbed for a second consecutive day as enthusiasm for the artificial intelligence trade lifted equities ahead of earnings from tech megacaps and the Federal Reserve’s interest-rate decision.
The MSCI Asia Pacific Index rose 0.8%, led by a 4.5% jump in South Korea’s Kospi Index. That came after SK Hynix Inc.’s stock climbed following a stronger-than-expected sevenfold surge in profit. The chipmaker is planning a total of 100 trillion won ($75 billion) in shareholder returns for 2026.
The optimistic tone came as Alphabet Inc. and Microsoft Corp. prepared to report earnings Wednesday, while Amazon.com Inc. is set to announce on Thursday.
Elsewhere, global crude oil benchmark Brent pared some of its losses from the previous two sessions as traders assessed efforts to de-escalate tensions in the Persian Gulf. The commodity rose 0.4% to around $114.35 a barrel. Treasuries were little changed, while the dollar held its gains from the previous two sessions.
Optimism around the AI trade rebounded this week after a recent rout in chip stocks, but it faces a key test from megacap tech earnings in the next few days. Investors are also awaiting the Fed’s rate decision for clues on the policy outlook as elevated bond yields and persistent inflation complicate the case for lower borrowing costs.