- South Korea's KOSPI surged 5.76 percent as technology stocks saw renewed buying interest, recovering from a previous sharp selloff.
- Japan's Nikkei 225 added 1.53 percent and gained 0.75 percent on a weekly basis, contributing to the overall rebound in Asian stock markets.
- Asian stock markets rebounded after two sessions of losses, supported by weaker-than-expected U.S. employment data and strong business activity surveys.
- Technology stocks saw renewed buying interest, with Samsung Electronics jumping 8.74 percent and SK Hynix rising 11.32 percent.
- Taiwan stocks closed higher, with the Taiwan Weighted index up 1.94%, driven by gains in the Plastic, Chemical, and Semiconductor sectors.
Asian stock markets experienced a significant rebound on Friday, driven by a surge in South Korea's KOSPI, which rose 5.76% following a tech-driven selloff.
Japan's Nikkei 225 also saw gains, adding 1.53% and 0.75% for the week.
The recovery was fueled by renewed buying interest in technology stocks, with Samsung Electronics jumping 8.74% and SK Hynix rising 11.32%.
Investor sentiment improved as weaker-than-expected U.S. employment data reduced expectations for further Federal Reserve interest rate hikes.
The combination of soft U.S. labor market data and resilient economic activity across Asia contributed to the positive market response.
Stronger PMI readings from Japan and China indicated that domestic demand and business activity remain robust despite global challenges.
Japan's return to services-sector growth and steady expansion in China's services industry suggest that domestic activity remains resilient even as manufacturing faces external pressures.
In Taiwan, stocks also rose, with the index closing up 1.94%, led by gains in the Plastic, Chemical, and Semiconductor sectors.
The best performers included Tex-Ray Industrial Co Ltd, which rose 10.00%, while Advanced Power Electronics Corp and Para Light Electronics Co Ltd both added 9.98%.
“Asian stock markets experienced a rebound, with Japan's Nikkei rising and South Korea's KOSPI surging 5.76 percent. This recovery was supported by a soft U.S. jobs report and strong PMI data across the region.”
Economy Middle East
