Asian chip stocks climb as Gulf markets face oil and diplomacy risks

Asian chip stocks climb as Gulf markets face oil and diplomacy risks

Asian markets began Thursday, 1 October, with an uneven performance before technology shares strengthened, supported by optimism over artificial intelligence demand. Across Arab markets, attention remained on oil prices and US–Iran diplomacy, although verified opening figures for the major Gulf indices were not yet available at publication.

Japan leads the technology advance
Japan’s Nikkei initially gained around 1%, with semiconductor shares providing support while financial stocks weakened. The broader Topix fell in early trading, highlighting the contrast between technology companies and other sectors.

Gains subsequently widened. During the Asian session, the Nikkei rose more than 3%, South Korea’s Kospi reversed earlier losses to gain around 1.7%, and Taiwan’s benchmark advanced approximately 0.8%.

Strong results from US memory-chip producer Micron helped underpin confidence in demand linked to artificial intelligence. These figures represent developments during trading rather than opening quotations.

Holiday closures narrow participation
Hong Kong’s stock market was closed for National Day, while mainland Chinese markets were also shut for the holiday period. Their absence reduced participation across two important regional markets.

Elsewhere, performance was less buoyant. India’s Nifty edged lower, while Singapore’s Straits Times Index advanced, illustrating the uneven regional picture beyond the strongest semiconductor markets.

Gulf opening picture remains incomplete
At 08:40 Stockholm time, Saudi Arabia’s main trading session had not yet begun. The exchange opens at 10:00 local time, equivalent to 09:00 in Stockholm. Dubai’s scheduled opening had already passed, but reliable figures for its initial index movement could not be confirmed for this report.

The regional backdrop remained sensitive to negotiations after Iran confirmed receiving Washington’s response to its latest peace proposal. The contents were not disclosed, leaving uncertainty over prospects for an agreement affecting shipping through the Strait of Hormuz.

Oil and borrowing costs remain influential
Brent crude fell towards $97 a barrel during Asian trading, while US ten-year Treasury yields remained around 5.3%.

For investors, this creates competing pressures: technology earnings offer support, while elevated financing costs and uncertainty over energy supplies complicate the outlook. A clearer assessment of Arab equity markets will depend on confirmed trading figures as their sessions develop.

Newshub Editorial in Asia – 1 October 2026