Asian stocks rose strongly today, Friday, led by chip and artificial intelligence companies, after investors ignored the exchange of blows between the United States and Iran, while attention focused on the upcoming listing of Korean chipmaker SK Hynix in the US market.

Although recent reciprocal attacks have increased the fragility of the ceasefire agreement between the United States and Iran, which is three weeks old, markets have largely absorbed developments in the Middle East, while oil prices and their potential impact on inflation have returned to investors' focus.

The bond market and the Japanese yen rose after statements by Japanese Finance Minister Satoshi Katayama, who confirmed that the government was studying ways to encourage pension funds, including the Government Pension Investment Fund, to increase their investments in domestic financial assets.

Japan's Nikkei index rose 1.8%, while South Korea's KOSPI index, which is the center of the artificial intelligence boom, jumped more than 5%. Shares of SK Hynix rose about 3% and Samsung Electronics shares rose about 6%, while Taiwan markets remained closed due to a typhoon.

The broader MSCI index for Asian and Pacific stocks excluding Japan rose 1.8%, while European stock futures fell 0.24%, indicating continued caution in the markets.

Investors remain focused on the artificial intelligence sector, which has driven global stocks to record highs, but at the same time has raised concerns about the sustainability of the rally and rising valuations for companies.

All eyes are on the upcoming listing of SK Hynix in the US market, after the company set the price of its American depositary receipts (ADRs) at $149 per share in an offering that will raise around $26.5 billion, reflecting strong demand from investors eager to invest in the artificial intelligence supply chain.

The proceeds from the offering are expected to be used to finance the construction of new factories and the purchase of equipment to meet growing demand for AI chips, making it the second-largest initial public offering (IPO) in the world after SpaceX's record-breaking IPO last month.

Shares of SK Hynix listed in South Korea have more than tripled since the beginning of the year, recording gains of 238%, contributing to the KOSPI reaching record highs and becoming the best-performing major stock market in the world since the start of 2025.

In currency markets, the Japanese yen rose by 0.4% to 161.69 yen per dollar after statements from the finance minister strengthened expectations that part of Japanese investments would be repatriated to the domestic market. In recent days, the yen has remained close to its lowest level in 40 years, amid anticipation of a possible intervention by Japanese authorities to support it.

In contrast, the US dollar has remained largely stable as investors await new indicators regarding the trajectory of US interest rates. Markets anticipate further increases this year, which could change depending on inflation developments stemming from the war.