Asian Tech Stocks Rally on OpenAI Deal Despite US Shutdown Concerns

Global stock markets, particularly in Asia, saw significant gains driven by technology sectors amid the U.S. government shutdown concerns. A key catalyst was OpenAI's collaboration with South Korean chipmakers Samsung Electronics and SK Hynix to supply memory chips and support the development of OpenAI's Stargate data centers, boosting shares of these companies and lifting the Kospi index to record highs. This partnership reinforced optimism around artificial intelligence, contributing to a rally in chip-related technology stocks across the region, including Japan's Nikkei 225 and Hong Kong's Hang Seng. Investors remain hopeful that a slowing U.S. job market and robust AI-driven growth will prompt the Federal Reserve to lower interest rates, aiding further market gains despite the political uncertainty in Washington. The surge in technology stocks and AI investments has overshadowed mixed economic data and geopolitical concerns, highlighting the strong structural demand for AI-related products and services. Overall, the market sentiment is positive with expectations of sustained growth fueled by AI innovation and corporate investment.