SK Hynix Inc.’s 12-layer HBM3E memory chip, front, and LPDDR5X CAMM2 memory modules were deployed at the company’s offices in Seongnam, South Korea, Tuesday, April 22, 2025.
Cho Sung Joon | Bloomberg | Getty Images
Asian tech stocks soared on Monday as investors cheered news that Iran and the United States had reached a deal to end the Middle East conflict.
Japanese tech investors Softbank was the best performing major tech stock in Asia, rising more than 12%. Tokyo Electron Advantest added 9.19% and 7.69%, respectively.
Samsung Electronics and SK Hynix, major memory chip companies on South Korea’s Kospi index, rose 4.65% and 6.42%, respectively.
Taiwan Semiconductor Manufacturing Co. (TSMC) rose 2.16%, while Hon Hai Precision, also known as Foxconn, rose 2.5%.
Softbank, Samsung Electronics, and SK Hynix have all seen strong gains in recent weeks. Last month, Samsung Electronics and SK Hynix each surpassed $1 trillion in market valuation, and SoftBank recently became Japan’s most valuable company.
The move was based on risk-on sentiment, with expectations that the Middle East conflict could soon come to an end following the peace agreement reached between the United States and Iran.
Pakistan Prime Minister Shehbaz Sharif announced on Sunday that Iran and the United States had agreed to a deal, with both sides declaring an immediate and permanent suspension of military operations on all fronts. The official signing ceremony is scheduled to take place in Switzerland on Friday, June 19th. Pakistan has acted as an intermediary between the two countries.
In a post on Truth Social, U.S. President Donald Trump said, “We have completed an agreement with the Islamic Republic of Iran to reopen the Strait of Hormuz without tolls, and the United States will also lift its naval blockade of Iran.” “Ships of the world, start your engines,” President Trump said. Let’s drain the oil! ”
Ekaterina Vigos, chief investment officer of core investments ex-Asia at BNP Paribas Asset Management, said the broader technology sector is doing quite well.
“Again, investors have to remember that while they are looking to rebalance some of their portfolios, they still want to stay in the AI race,” she said on CNBC’s “Squawk Box Asia” on Monday.
Broad Asian markets also rose on Monday on signs of an end to the Middle East conflict.
