.jpg)
6 hours ago
1
Article content
(Bloomberg) — Asia’s stock benchmark climbed the most in seven weeks, led by technology shares, as risk sentiment improved after US President Donald Trump announced a tentative ceasefire between Israel and Iran.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The MSCI Asia Pacific Index advanced as much as 1.8%, the most since May 2. Semiconductor names including TSMC, Samsung Electronics and SK Hynix were the top contributors to its gain. South Korea’s benchmark Kospi index jumped almost 3% to lead a broad regional advance, extending its outperformance to Asian peers this year.
Article content
Article content
Article content
The rally in Asian shares shows a swift shift in sentiment after heightened tensions in the Middle East turned markets jittery over the past few sessions. It also marks an immediate rotation back into growth stocks and away from sectors such as oil and defense that had rallied in recent days.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“While it’s surely too early to firmly put Middle East tensions in the rear-view mirror, traders are likely to give themselves a deep — albeit tentative — break today to enjoy the rainbow after days of geopolitical storm,” said Hebe Chen, a market analyst at Vantage Markets in Melbourne. This shift may trigger a sector rotation from defensives into technology and growth sectors that “may benefit as risk appetite brightens under the tentative glow of peace,” she added.
Article content
Tuesday’s rally took the Kospi’s year-to-date advance to 29%, which is about 20 percentage points more than the MSCI Asia Pacific Index’s 2025 gain. Korea’s benchmark is among the world’s top performers this year as the recent election of Lee Jae-myung as President has restored political stability and also boosted expectations that his policies will lift corporate governance standards and improve stock-market returns.
Article content
Article content
Global investors, who have been piling money into Korean shares in recent weeks, were buyers on a net basis on Tuesday as well. Index provider MSCI Inc. is scheduled to release its market reclassification report, which includes status changes, on June 24. Investors are watching to see if it adds South Korea to the watchlist for an upgrade to developed-market status.
Article content
Sectors to Watch
Article content
- Asian semiconductor stocks advance as risk sentiment improved after US President Donald Trump announced a tentative ceasefire between Israel and Iran.
- Asian defense stocks mostly decline after President Donald Trump announced that Israel and Iran had agreed to a tentative ceasefire in their conflict that would begin about midnight Washington time.
- Asian energy shares track losses in oil after US President Donald Trump announced a tentative ceasefire between Iran and Israel.
- Asian utilities stocks rise on a tentative ceasefire between Israel and Iran, spurring optimism that crude supplies won’t be disrupted.
- Asian airline shares bounce back from Monday’s losses as oil prices dropped after US President Donald Trump announced a tentative ceasefire between Israel and Iran.
English (US)