MANILA, Philippines (AP) — Asian shares advanced on Thursday, tracking Wall Street’s rise to records despite the the shutdown of the U.S. government .
Technology shares jumped on expectations of higher demand for computer chips due to a partnership between South Korean tech and OpenAI.
U.S. futures and oil prices also rose.
South Korea’s Kospi climbed 2.9% to 3,555.63 after Samsung Electronics and SK Hynix announced their agreement with OpenAI to supply its Stargate data hubs with memory chips.
“We expect export growth to remain resilient, led by higher chip prices, which will likely continue to offset the tariff impact on non-chip sectors such as autos,” the Nomura Group said in a commentary.
Shares in Samsung surged 4.6% while SK Hynix’s shares soared 10.8%. Taiwan-based chip maker