Asian markets kicked off February 28, 2026, with a fourth straight day of gains, fueled by Nvidia’s stellar earnings that eased AI bubble fears, though the chip giant pared early jumps. The MSCI Asia Pacific Index rose 1% to a record, led by South Korea’s Kospi (+1.9%) and Japan’s TOPIX tech (+2.6%), as supply chain plays like SK Hynix (+2%) and Samsung (+5%) rallied on data center demand confirmation.
Nvidia Earnings Spark Relief Rally
Nvidia’s Q4 beat—$76.4-79.6B Q1 guidance topping $72.8B estimates—reignited AI optimism, boosting Asian semis. SK Hynix (Nvidia HBM supplier) +2%, LG Innotek +14%, Seoul Semi +13%. Fuji Electric +1.7% eyes GaN/SiC chips. Wedbush’s Dan Ives: “Encouraging for Asia chain amid escalating capex.” Shares erased after-hours gains; S&P futures dipped 0.2%.
Regional Highlights
- Korea Kospi: Record close (+1.9%), semis lead.
- Japan Nikkei: +1.2%, Trend Micro +5.95%, Sony +3.86%.
- China CSI 300: Flat, US tariffs linger.
- India Nifty: +0.55% to 25,713, PSU banks shine despite global noise.
Dollar weakened (DXY -0.5%), yen bogged by BoJ murkiness. Gold +0.3%, Bitcoin ~$68K.
Backdrop: AI Euphoria Meets Geopolitics
Company’s outlook anchors Asia semis earnings amid BofA’s “hyper-bull” (cash 3.3% low). US-Iran strikes cap risk-on: oil $80/bbl fears. Trump tariffs (15% global) pressure EMs; India resilient on RBI.
Key Movers Table
| Stock/Index | Change | Reason |
|---|---|---|
| SK Hynix (KR) | +2% | Nvidia HBM supplier |
| Samsung (KR) | +5% | AI collab |
| TOPIX Tech (JP) | +2.6% | Data center boom |
| Nifty (IN) | +0.55% | PSU/auto rally |
Outlook: AI Momentum vs. Risks
Vantage’s Hebe Chen: “Nvidia anchors Asia AI names.” ORTUS’s Andrew Jackson: GaN/SiC growth. Watch Fed CPI, Iran talks—oil $100 risks equities.
For Patiala traders: Semi longs (Nvidia proxy); hedge oil/gold. Asia’s AI engine revs amid global storm.
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