Asian stocks headed for their biggest gain in nearly four months on July 31,

Chipmakers rallied after Amazon and Microsoft reported strong earnings, boosting hopes of continued spending on AI infrastructure.

The MSCI Asia Pacific Index rose as much as 4.3% and was set for a second straight weekly gain.

South Korea’s Kospi climbed about 14%, while Taiwanese stocks also advanced.

Samsung Electronics and SK Hynix each surged more than 25% after global tech shares rebounded sharply.

That optimism was also supported by expectations that the two US tech companies will each spend about $200 billion this year on data centers and AI capacity.

Janus Henderson Investors, a global asset manager based in the UK and Australia, said lower-AI-exposure markets such as Thailand may offer better value.

Portfolio manager Sat Duhra said Thailand’s benchmark is less dependent on technology stocks than those in South Korea and Taiwan.

🔗 Source: Bloomberg

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