#taiwantaiexretakes46500onchiprally
sian Session Stock Market - Friday, August 28
Asian markets traded mostly higher
on
Friday, following the broadly positive cues from Wall Street overnight.
Nvidia's blowout earnings continue to ripple across the region, while traders braced for Fed Chair Kevin Warsh's Jackson Hole speech later in the day.
Japan - Nikkei rises on A.I. optimism
225: +0.4% to above 66,300
: +1.0% to 4,160
Japan's benchmark recovered losses from the previous session, tracking Wall Street higher as Nvidia's upbeat sales forecast strengthened the outlook for A.I.-driven demand.
Key drivers:
· Nvidia's sales outlook boosted semiconductor-related names - Advantest +1.4%, Taiyo Yuden +2.2%, Tokyo Electron +1.1%
· Unemployment fell to 2.4% in July, the lowest in a year
· Tokyo's inflation accelerated to a five-month high in August
Investors remained cautious ahead of Fed Chair Warsh's Jackson Hole speech for clues on U.S. interest rates.
Corporate news: Mizuho Bank initiated legal action against iron ore trader Radiant World in Singapore's Supreme Court over allegedly falsified financing documents.
China - A-Shares surge, Tech leads
Shanghai Composite: +1.13% to 3,956.57
Shenzhen Component: +1.5% to 14,048.88
ChiNext: +1.71% to 3,473.35
STAR 50: +3.77% to 1,693.48
A-shares extended their winning streak with a third consecutive gain, driven by the AI hardware产业链. Turnover surged back above ¥2.12T, up ¥317.2B from the previous session.
The catalyst: Nvidia's Q2 revenue hit $96.2B, up 106% YoY, with FY2028 guidance expected to grow ~70% - far above analyst estimates of 44%. Nvidia surged 8.74% overnight.
Sector flows: Electronics led with ¥42.7B in net inflows, followed by communications equipment (¥15B+), machinery (¥11.8B+), and non-ferrous metals (¥11.5B+).
, $PCB.US
, and storage chip concepts all saw strong momentum.
Earnings backdrop: With ~70.5% of A-share companies having reported H1 results,
Q2 earnings growth for all A-shares jumped from 19.2% in Q1 to 53.6%. The semiconductor sector stood out: 132 listed semiconductor companies posted ¥318.26B in revenue, up 26.34% YoY.
Hong Kong - Hang Seng retreats
Hang Seng: -0.34% to 25,565.74
Hong Kong's benchmark opened lower on futures settlement day, falling as much as 152 points intraday before trimming losses.
Turnover dropped to HK$233.5B. The tech-heavy Hang Seng TECH Index fell 0.13% to 4,620.29.
Notable moves:
· Dingdang Health surged over 20% post-earnings
· Dongguang Nongmu rose 14% on better-than-expected results
·
Electronic climbed 6.6% on AI server momentum
The index remains nearly flat year-to-date (-0.3%), while the TECH Index is down 15% YTD.
South Korea - KOSPI pulls back
KOSPI
: -1.02% to 6,841.61
After surging 1.53% on Thursday following the Bank of Korea's rate hike to 3.00%, the KOSPI gave back gains as semiconductor heavyweights dragged the index lower.
The damage:
· Samsung Electronics and SK Hynix both fell over 2%
· Foreign investors sold ₩1.38T worth of Korean stocks
· Institutions sold ₩300.1B
· Retail investors bought ₩531.6B
Key headwinds:
Uncertainty over U.S. semiconductor tariffs and cautious positioning ahead of Fed Chair Warsh's Jackson Hole speech weighed on sentiment.
Australia - ASX extends gains
S&P/ASX 200: +0.26% to ~9,061
Australia's benchmark moved above the 9,150 level intraday, with gains in gold miners, energy, and technology stocks.
Tech rally: Afterpay parent Block gained ~3%, Xero surged over 5%, Zip and WiseTech Advanced over 3% each. Appen jumped nearly 11% after upbeat H1 results on China growth.
• Energy stocks rose with oil prices - Woodside, Origin, Santos each added ~1%.
• Gold miners also advanced as gold held above $4,600/oz.
Nvidia's earnings were the dominant force across Asia. The AI trade is alive and well - Japan's semiconductor names, China's tech sector, and Australia's tech stocks all rallied on the AI infrastructure narrative.