Asian semiconductor stocks gain as Nvidia hits record high and surpasses Microsoft in market value

Asian semiconductor stocks rose on Tuesday after Nvidia's shares hit a record high, closing at $138.07. This increase boosted Nvidia's market value to over $3.4 trillion, making it the second most valuable company on Wall Street, surpassing Microsoft. The positive sentiment from Nvidia's performance extended to its suppliers. South Korean chipmaker SK Hynix saw a 2.5% increase, while Samsung Electronics rose 0.5%. Other companies like Taiwan Semiconductor Manufacturing and Foxconn also experienced gains of about 2% to 2.5%. Overall, Japanese semiconductor firms benefited as well, with Tokyo Electron rising 5% and Advantest gaining 3.6%. Nvidia's strong performance is linked to high demand for its graphics processing units from major tech companies preparing for upcoming earnings reports.