Asian tech stocks rise, oil prices fall amid outlook for U.S.-Iran peace talks

Huo Xing Finance reports that on May 27, Asian markets showed mixed performance amid optimistic expectations of a potential peace agreement between the U.S. and Iran, with South Korea leading gains as technology and chip stocks surged. South Korea’s semiconductor giant SK Hynix rose over 10%, with its market capitalization surpassing $1 trillion. Samsung Electronics also advanced following news of a labor agreement that averted a major strike. Meanwhile, U.S. markets had been steadily strong, with the S&P 500 and Nasdaq hitting new all-time highs; Micron Technology jumped nearly 20% in a single day, also surpassing $1 trillion in market value. The market believes the AI boom is expanding from GPUs to AI infrastructure such as high-bandwidth memory (HBM), continuing to drive gains in the semiconductor sector. On the other hand, despite recent U.S. airstrikes on Iran escalating tensions, markets still anticipate a final agreement between the U.S. and Iran, causing both Brent and WTI crude oil prices to decline by approximately 1% on Wednesday.