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EsAlphabet’s $15 Billion Capex Bump Lifts Asian Chip Stocks
Asian shares rose after Alphabet raised 2026 capex by $15 billion, boosting chipmakers and the KOSPI 3%, while higher oil after Houthi-claimed attacks on Saudi tankers capped regional gains.
Asian equities advanced on Thursday, led by semiconductor shares, after Alphabet lifted its annual capital spending plan by an extra $15 billion. South Korea’s KOSPI climbed 3%. Gains across the region were kept in check by a rise in oil prices following Houthi claims of attacks on two Saudi tankers in the Red Sea.
The rally concentrated in technology as investors focused on the buildout of artificial intelligence infrastructure. The larger Alphabet budget pointed to ongoing spending tied to data centers and AI capacity, aiding suppliers of high-bandwidth memory and servers. U.S. stock futures eased during Asian hours after a slightly lower close on Wall Street, and Alphabet shares slipped in late trading despite stronger headline results.
South Korea outperformed regional peers. Memory leaders SK Hynix and Samsung Electronics rose on expectations that AI workloads will support demand for cutting-edge chips. Separately, South Korea’s economy grew 3.7% year over year in the second quarter of 2026, above a 3.5% forecast, helped by strong semiconductor exports linked to overseas AI spending.
Elsewhere in the region, Japan’s blue-chip gauge added 0.4%, and a broader index rose 0.5%. Hong Kong’s benchmark gained 1.3%. Mainland Chinese benchmarks fell 0.2% each. Australia’s S&P/ASX 200 increased 0.7%, while Singapore’s main equity index slipped 0.8% ahead of local consumer inflation data due later in the day. Futures tied to India’s market traded largely flat.
Crude prices advanced for a fifth session to a six-week high after the Houthi group reported strikes on two Saudi oil tankers in the Red Sea, raising the risk of shipping disruptions. The move in oil coincided with a reassessment of inflation and interest-rate expectations across markets.
Australia’s labor market added 76,300 jobs in June, beating a forecast for a 16,400 increase, while the unemployment rate held at 4.4%. The stronger report increased the chances that the Reserve Bank of Australia will raise its cash rate by 25 basis points before year-end. Attention is on next week’s quarterly inflation figures ahead of the RBA’s Aug. 11 policy meeting.
UK inflation slowed to 2.6% in June from 2.8% in May, coming in below the 2.7% forecast. Investors are watching upcoming U.S. corporate earnings for updates on technology spending and profitability, while tracking Middle East developments that could affect oil supply and price pressures.
