Global stock markets rallied on Friday, showing resilience despite continued weakness in semiconductor and technology stocks. Investors appeared encouraged by optimism surrounding global economic conditions and the possibility of future interest rate cuts in the United States, pushing major indexes across Asia and Europe into positive territory. The strong performance came even as U.S. markets remained closed for the Independence Day holiday.
South Korea emerged as the standout performer of the day, with the Kospi soaring nearly 5%, marking one of the strongest gains among major global indexes. The impressive rally highlighted investor confidence in the country’s broader economy despite recent pressure on chipmakers. Japan also enjoyed a strong session, with the Nikkei 225 climbing more than 1%, while Australia’s S&P/ASX 200 and Hong Kong’s Hang Seng Index recorded healthy gains as market sentiment improved across the region.
Chinese markets joined the upward trend, with the CSI 300 and Shanghai Composite posting moderate gains. Taiwan’s benchmark index edged slightly higher, reflecting cautious optimism among investors. Across Asia, traders largely brushed aside concerns over the recent sell-off in semiconductor stocks, focusing instead on broader economic signals and improving risk appetite.
European markets followed Asia’s lead, opening higher and extending what has been a positive week for investors. The pan-European Stoxx 600 index advanced in early trading, putting it on track for a fourth consecutive week of gains. Most major sectors traded in positive territory, reflecting growing confidence that central banks may adopt a more supportive monetary stance in the months ahead.
The positive mood in global markets contrasted with the mixed performance seen on Wall Street a day earlier. The Dow Jones Industrial Average closed at a record high after a softer-than-expected U.S. jobs report strengthened expectations for Federal Reserve rate cuts. However, technology stocks remained under pressure, with semiconductor companies leading losses. Major chip-related firms, including Nvidia, Micron, Teradyne, and KLA, all declined, dragging the Nasdaq lower and highlighting the ongoing rotation away from some of the market’s biggest tech winners.
source: cnbc
