Asian Stocks Rise Despite Strait of Hormuz Risk, Led by Chip Shares

Asian stock markets rose on Friday, July 10, 2026, led by chip and AI-related shares, brushing aside concerns over energy supply disruptions from the Strait of Hormuz. The MSCI Asia Pacific equities index rose 1.7%, trimming its weekly decline to less than 1%. Hong Kong's Hang Seng Index climbed 1.9%, putting it on track for its strongest week in more than a year. South Korea's Kospi jumped 5%, helped by SK Hynix's 26.5 billion dollar American depositary share offering. The rally coincided with Micron Technology's announcement of plans to invest more than 250 billion dollars in the U.S. through 2035, which lifted the Philadelphia Semiconductor Index by 3%.