Hong Kong, 30 April 2026 – Asia’s equity markets are being pulled in two opposing directions, as the artificial intelligence boom continues to lift technology shares while the Iran war exposes deeper stress across energy-sensitive sectors, currencies and broader investor sentiment.
The headline performance of Asian stocks has remained more resilient than expected, largely because investors continue to chase companies tied to the AI supply chain. Chipmakers, memory producers, data-centre suppliers and related technology counters have helped cushion regional benchmarks, especially in markets such as South Korea and Taiwan. Yet beneath the surface, the rally is becoming increasingly narrow, with gains concentrated in a smaller group of technology names while other sectors struggle under the weight of higher oil prices, inflation risks and weaker growth expectations.
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