Asian chip stocks are poised for gains, driven by sustained investor interest in artificial intelligence. This comes as the broader market faces pressure from escalating Middle East hostilities, which have pushed Brent crude oil close to $100 a barrel.
Futures for South Korea's equity market indicated a higher open, following a 1.3% gain in the Philadelphia Semiconductor Index (SOX) in New York. Conversely, contracts for Japan suggested losses on Wednesday. US stock futures remained largely unchanged after the S&P 500 and Nasdaq 100 experienced declines following a public holiday.
The rise in oil prices is contributing to concerns about inflation and the prospect of higher interest rates, with money markets pricing in over a 50% chance of a Federal Reserve rate increase this month. Despite a rally in high-profile chipmakers, the S&P 500 fell for a second consecutive session.
