Asian markets rallied on Friday as South Korea's Kospi jumped more than four percent, leading regional gains after SK Hynix priced a record-breaking $26.5 billion share sale in the United States. The Nvidia memory chip supplier set each American depositary share at $149 ahead of its Nasdaq debut on July 10, with the offering oversubscribed more than seven times, drawing nearly $200 billion in demand.
The tech-driven momentum lifted markets across the region. Tokyo's Nikkei 225 rose nearly two percent, with AI and semiconductor stocks leading gains, while SoftBank, Tokyo Electron, and Advantest each posted strong advances. China's CSI 300 and Hong Kong's Hang Seng also moved higher.
Oil prices stabilised near $76.50 a barrel as technical negotiations between Washington and Tehran continued following U.S. Central Command's announcement on July 8 that strikes on Iran had concluded, easing earlier Strait of Hormuz tensions.