Asian stock markets moved higher on Tuesday in a widespread bout of buying, led by technology and semiconductor shares that offset headwinds from weaker trade data out of China. Markets in the region also took cues from a strong finish on Wall Street the previous session, where major U.S. indexes logged notable gains amid renewed enthusiasm for artificial intelligence-related demand and easing concern over bond yields.
Futures on major U.S. indices showed little movement during Asian trading hours.
Regional markets rally on tech strength
South Korea's KOSPI outperformed, jumping 3.4% to reach a six-week high. SK Hynix Inc (KS:000660) led local advances with a near 9% gain that pushed the stock to a new record level. Samsung Electronics (KS:005930) also contributed to the rally, climbing more than 4% as investors favored chipmakers and exporters leveraged to global technology demand.
Japan's Nikkei 225 advanced 2.5%, while the broader TOPIX index also rose. Shares of SoftBank Group (TYO:9984) surged by over 10%, reflecting strong investor appetite for technology-focused holdings.
Elsewhere in the region, Singapore's Straits Times Index inched up 0.6% and Australia's S&P/ASX 200 added 0.4%. Futures tied to India's Nifty 50 were higher by 0.5% during the session.
Geopolitical developments remain under scrutiny
Markets were closely monitoring the situation between the United States and Iran after ceasefire discussions in Islamabad over the weekend failed to produce a breakthrough. Washington has proceeded with a naval blockade of Iranian ports and the Strait of Hormuz, a strategically important global oil transit route. At the same time, media reports indicated talks are ongoing about a possible second round of in-person discussions aimed at extending the ceasefire before it lapses.
China trade data cools sentiment
Sentiment was moderated by fresh Chinese trade figures showing export growth slowed materially in March. Outbound shipments rose 2.5% year-on-year for the month, falling well short of expectations for an 8.3% increase and decelerating sharply from a 21.8% rise recorded in the January-February period.
Imports, by contrast, increased 27.8%, far surpassing forecasts and suggesting resilient domestic demand in China. The data also pointed to a much smaller trade surplus of roughly $51 billion, well under expectations and signaling pressure on the country's export engine amid heightened global uncertainty.
China's Shanghai Composite gained 0.8% while the Shanghai Shenzhen CSI 300 rose 0.6%. Hong Kong's Hang Seng index ticked up 0.4%.
Market takeaway
Tuesday's session underscored technology and semiconductor stocks as the primary drivers of regional equity gains, with large-cap chipmakers and tech investors seeing outsized moves. At the same time, weaker external demand for Chinese exports and evolving geopolitical tensions contributed to a mixed backdrop that investors continued to weigh.