Investing.com-- Most Asian stocks rose on Thursday amid persistent cheer over stimulus measures in China, while technology stocks- particularly chipmakers- rallied tracking strong earnings from U.S. peer Micron.
Positive earnings from Micron, which also presented a strong outlook, boosted the notion that the AI trade remained in play, and that chipmakers were likely to continue benefiting from strong AI-fueled demand.Shanghai Composite Chinese markets were on a tear this week after Beijing announced a string of key stimulus measures, including a cut to bank reserve requirements, as well as lower mortgage rates.
But despite the increased stimulus, analysts said Beijing needed to do more to shore up growth, especially on the fiscal front.rose 0.9%, coming close to record highs amid optimism over China, which is a key trading partner for the country.index pointed to a strong open, after the index hit a record high above 26,000 points, also clearing a key resistance level.
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