Japan's benchmark Nikkei 225 index surged 4.03% on Friday, climbing 2,494.59 points to close at 64,362.02, as a powerful rebound in global chip and technology stocks swept across Asian markets following blockbuster quarterly earnings results from Microsoft, Amazon and Meta Platforms.

The rally in Tokyo came alongside an even more dramatic surge in neighboring South Korea, where the benchmark KOSPI index posted its largest single-day gain on record, jumping 17.91% to close at 6,595.45. Chipmaking giants Samsung Electronics and SK Hynix each surged more than 20% during the session, effectively hitting the South Korean exchange's daily limit for individual stock price movements, as investors rushed back into semiconductor names that had been battered by a punishing selloff earlier in the week.

Both rallies traced their origins directly to a powerful overnight session on Wall Street. Microsoft's shares soared 15.5% Thursday, marking the company's best single-day performance in nearly 18 years, according to the Associated Press, after the technology giant reported that its Azure cloud computing division grew 43% during the quarter, easing broader investor concerns about the sustainability of massive capital spending on artificial intelligence infrastructure. Amazon and Meta Platforms also posted results that exceeded market expectations, reinforcing confidence that demand for AI-related computing infrastructure remains robust despite growing skepticism in recent weeks.........

© International Business Times