Asia stocks: Nikkei, KOSPI rally on tech gains; China data, Iran conflict in focus

Investing.com-- Asian stock markets climbed in broad-based buying on Tuesday, buoyed by strong gains in technology and chip stocks, while investors also digested weaker-than-expected trade data from China.

Regional equities tracked a firm lead from Wall Street, where all three major indexes ended sharply higher on Monday, as technology shares rallied on sustained optimism around artificial intelligence demand and easing concerns over bond yields.

U.S. stock index futures were little changed in Asian hours.

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Nikkei, KOSPI shares rally with tech gains

South Korea’s KOSPI surged 3.4% to a six-week high, with  SK Hynix Inc (KS:000660) advancing nearly 9% recent gains to hit a fresh record high.

Samsung Electronics (KS:005930) shares also climbed more than 4%, as investors piled into chipmakers and exporters tied to global tech demand. 

Japan’s Nikkei 225 rose 2.5%, while the broader TOPIX. Shares of tech-investor SoftBank Group (TYO:9984) jumped more than 10%.

Singapore’s Straits Times Index edged 0.6% higher, while Australia’s S&P/ASX 200 added 0.4%.

Futures tied to India’s Nifty 50 rose 0.5%.

Markets were also closely watching developments in the U.S.-Iran conflict after weekend ceasefire talks in Islamabad failed to produce a breakthrough.

Washington has since moved ahead with a naval blockade of Iranian ports and the Strait of Hormuz, a key global oil artery.

At the same time, media reports indicated that Washington and Tehran are discussing a potential second round of face-to-face talks aimed at extending the ceasefire before it expires.

China’s exports slowed sharply in March

However, sentiment was tempered by fresh data from China showing a sharp slowdown in exports.

Outbound shipments rose just 2.5% year-on-year in March, missing expectations for an 8.3% increase and slowing significantly from a 21.8% surge in the January-February period.

Imports, by contrast, jumped 27.8%, far exceeding forecasts and signaling resilient domestic demand.

The data also showed China’s trade surplus narrowing sharply to about $51 billion, well below expectations, highlighting pressure on the country’s export engine amid rising global uncertainty.

China’s Shanghai Composite index rose 0.8%, while the blue-chip Shanghai Shenzhen CSI 300 edged 0.6% higher.

Hong Kong’s Hang Seng index ticked up 0.4%.