SK Hynix Inc. 12-layer HBM3E memory chips, front, and an LPDDR5X CAMM2 memory module arranged at the company’s office in Seongnam, South Korea, Tuesday, April 22, 2025.
SeongJoon Cho | Bloomberg | Getty Images
Asian technology stocks jumped on Monday as investors welcomed news that Iran and the United States have reached an agreement to end the Middle East conflict.
Japanese technology investor SoftBank was the best performer among Asia’s top tech stocks, ending Monday’s session up 10%. Tokyo Electron And Avantest added 7% and 7.67% respectively.
Samsung Electronics and SK Hynix, memory chip giants and heavyweights on the South Korean Kospi index, gained 4.5% and 6.42% respectively.
Taiwan Semiconductor Manufacturing Companyor TSMC rose 2.81%, while Hon Hai Precision, also known as Foxconn, added 2.69%.
Softbank, Samsung Electronics and SK Hynix have seen huge overall gains in recent weeks. Last month, Samsung Electronics and SK Hynix each crossed paths 1 trillion dollars market valuation, while SoftBank recently became the most valuable company in Japan.
The moves follow a sense of risk amid expectations that the Middle East conflict could soon end as the United States and Iran reached a peace deal.
According to Pakistani Prime Minister Shehbaz Sharif on Sunday, Iran and the United States having accepted to an agreement, with both parties declaring an immediate and definitive end to military operations on all fronts. The official signing ceremony will take place on Friday June 19 in Switzerland, he said. Pakistan served as a mediator between the two countries.
“The agreement with the Islamic Republic of Iran is now concluded” to reopen the Strait of Hormuz without a toll system and the United States will also end the naval blockade of Iran, the American president said Donald Trump said in a Social truth job. “Ships of the World, start your engines,” Trump said. Let the oil flow! »
The broader technology space has performed quite well, according to Ecaterina Bigos, BNP Paribas Asset Management’s chief investment officer for core investments in Asia ex-Japan.
“Because again, you have to remember that investors are trying to rebalance certain parts of the portfolios, but they still want to stay in this AI race,” she told CNBC’s “Squawk Box Asia” on Monday.
Asian markets were also higher on Monday, amid signs of an end to the conflict in the Middle East.