September 22, 2026
News

Tech Rally Returns as Nasdaq Hits Record High, Asian Markets Follow

Global technology stocks regained momentum on Monday, pushing Wall Street higher and extending the rally into Asian markets on Tuesday as investor confidence in artificial intelligence stocks returned.

The Nasdaq Composite climbed 2.3% to a record close, while the S&P 500 gained 1.5%. The rally was led by technology and semiconductor stocks, with investors also encouraged by easing U.S. Treasury yields and lower oil prices.

The renewed strength in tech stocks came after a period of pressure on the sector, with fresh optimism around artificial intelligence helping bring buyers back into the market.

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AI optimism puts tech stocks back in focus

One of the major catalysts was renewed interest in AI-related companies following strong demand for Meta Platforms’ new AI assistant, Muse.

The renewed enthusiasm helped lift semiconductor stocks across the U.S. market. Advanced Micro Devices rose around 10%, reaching a $1 trillion market valuation, while Intel gained more than 12% and Arm Holdings climbed about 17%. The PHLX Semiconductor Index also jumped 4.3%.

The gains suggest that investors are once again focusing on the potential growth of AI infrastructure and semiconductor demand after the sector experienced a recent selloff.

Asian markets extend the rally

The positive momentum carried into Asian trading on Tuesday.

South Korea’s KOSPI rose nearly 2%, with major chipmakers Samsung Electronics and SK Hynix among the key drivers. The index was up 1.94% at 7,143.63 in early trading, while Samsung gained 2.28% and SK Hynix rose 2.94%.

Later trading data showed the KOSPI rising more than 2% in early Seoul trading, with Samsung up 2.55% and SK Hynix gaining 3.21%.

Taiwan’s technology-heavy market also reached a record high, while China’s blue-chip stocks and Hong Kong’s Hang Seng index moved higher. MSCI’s broadest index of Asia-Pacific shares outside Japan was up around 0.75%.

The technology rally also helped lift shares of Chinese AI and technology companies, highlighting how closely global semiconductor and AI stocks remain connected.

Lower yields provide another boost

The tech rally was supported by a decline in U.S. Treasury yields from recent highs. Lower yields can improve the appeal of growth-oriented stocks because they reduce the relative pressure that higher interest rates place on future corporate earnings.

Oil prices also eased, with Brent crude stabilising around $100.65 a barrel after falling more than 3% in the previous session. Investors were watching developments around potential U.S.-Iran talks, which helped improve broader market sentiment.

However, the broader interest-rate picture remains uncertain. Markets are still pricing in the possibility of another U.S. Federal Reserve rate hike later this year, keeping monetary policy an important factor for global equities and currencies.

What markets are watching next

Investors are now watching whether the technology-led rebound can continue beyond a single session.

The upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping is also in focus, particularly for trade relations and potential cooperation in areas such as artificial intelligence.

For global markets, the combination of AI optimism, semiconductor strength, Treasury yields, oil prices and interest-rate expectations is likely to remain important in determining the direction of technology and broader risk assets in the near term.

For traders watching U.S. and Asian markets, the renewed strength in technology stocks puts semiconductor and AI-linked assets back in focus as global markets respond to changing expectations around growth, rates and risk appetite.