Asian technology shares rose on August 5 after Wall Street hit fresh highs overnight, supported by strong corporate earnings and lower oil prices.

In Japan, SoftBank Group, a Tokyo-based investment conglomerate that owns a majority stake in chip designer Arm Holdings, jumped more than 10%.

Chip-related stocks also advanced. Test equipment maker Advantest rose 7%, memory chipmaker Kioxia gained 6.34%, and chip equipment maker Tokyo Electron added 3.64%.

In South Korea, memory chipmaker SK hynix climbed 6.9%, Samsung Electronics rose more than 4%, and LED component maker Seoul Semiconductor gained 7.6%.

Ortus Advisors strategist Andrew Jackson said the rally in US semiconductor stocks reinforced the bullish outlook for Asian AI-related stocks.

He said SoftBank could extend gains after Arm rose overnight on optimism about higher AI-related data center royalties and its plans to develop central processing units.

In the US, the Nasdaq Composite rose 2.59%, and Treasury Secretary Scott Bessent said Washington and Tehran could reach a deal within days to reopen the Strait of Hormuz, easing concerns about global energy supplies.

🔗 Source: CNBC

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