ASML lifts 2026 guidance as Asian chip stocks surge

Asian semiconductor shares staged a powerful rally on Wednesday as investors rushed back into chip stocks following a recent selloff, with South Korea's Kospi posting its best single-day performance in over a month and ASML ↘ 0.19% delivering a stronger-than-expected earnings report that lifted sentiment across the sector.

South Korea Leads the Rebound

SK Hynix shares jumped 8.8% in Seoul after its Nasdaq-listed American Depositary Receipts surged more than 27% overnight in New York, according to the Chosun Ilbo. The rally, fueled by softer-than-expected U.S. inflation data and renewed optimism toward AI-related chipmakers, helped push the Kospi up 6.24% to close at 7,284.41. Foreign investors made net purchases of around 2.5 trillion Korean won on the day.chosun+1

Samsung Electronics gained 6.3%, while Taiwan's TAIEX rose 2% to close at 45,631.59. Japan's Nikkei 225 added 1.5%. The rally tracked an overnight recovery in U.S. technology stocks, with the Nasdaq Composite climbing 0.9% on Tuesday after a report showed U.S. consumer prices rose 3.5% year-over-year in June, below economists' expectations.wsls+1

ASML Raises Outlook

Adding fuel to Wednesday's rally, ASML reported second-quarter revenue of €9.3 billion with a gross margin of 54%, beating analyst consensus estimates of €8.87 billion. The Dutch chipmaking equipment maker also raised its full-year 2026 revenue guidance to between €43 billion and €45 billion with gross margins of 54% to 56%, up from its prior forecast of €36 billion to €40 billion issued in April.asml+4

Heavyweight Influence

The concentration of chip stocks in emerging market benchmarks amplified the day's moves. SK Hynix and Samsung together account for roughly 16% of the MSCI Emerging Markets Index, with their combined weight alongside TSMC Taiwan Semiconductor Manufacturing Company ↘ 1.20% reaching more than 30% of the gauge. The rebound came after SK Hynix's recent Nasdaq listing on July 10, which raised $26.5 billion in the largest-ever foreign listing in the United States, and a subsequent selloff earlier in the week that had dragged Korean equities lower.cnbc+2

Reuters reported that Barclays ↘ 2.72% initiated research coverage of SK Hynix, providing additional support. Analysts noted the broader recovery in AI semiconductor names including Nvidia ↘ 1.47% and Micron ↘ 2.22% as catalysts for renewed investor confidence.reuters+2