AMDay

Chipmaker AMD posted strong results and set guidance above consensus estimates, sending its stock price higher and propelling the semiconductor sector to new highs. The same AI-fuelled sentiment was felt in Korea, where Samsung Electronics and SK Hynix surged. Elsewhere, news of a looming US–Iran peace deal pushed equity markets firmly into positive territory. Closer to home, infrastructure investor Infratil announced a record data centre contract for key portfolio company CDC.

Wall Street surges on AMD earnings and US–Iran peace talks

News the US and Iran may be closing in on a peace deal, coupled with stellar earnings from the tech sector, fuelled Wall Street’s recent melt-up. Sources suggested the US and Iran are getting close to a deal that would bring a resolution to the conflict, with the agreement including a moratorium on nuclear enrichment. The NASDAQ jumped +1.8%, the S&P 500 increased +1.3% and the DOW added +1.2%. AMD (+18.1%) stole the show with its earnings report, beating the Street on expectations and setting guidance well above expectations, driven by surging AI demand. Other notable gainers included Uber (+8.6%) and Disney (+7.0%) on impressive earnings—both pointing to a resilient consumer spending backdrop. The US two-year yield fell -7bp to 3.87%, while the 10-year yield lost -7bp to 4.40%.​​​​​​​

Peace deal and Strait of Hormuz hope sends Europe into the green

London’s FTSE 100 and Europe’s Stoxx 600 gained +2.2% and +2.3% as investors in the region gained confidence following recent talks between the US and Iran. The IRGC stated that reopening the Strait may be possible if the ‘threats from aggressors’ were ended. Airline stocks rose as the price of oil fell, with Ryanair gaining +9.9% and easyJet increasing +8.9%. Diageo jumped +5.4% as the brewer reported 3Q growth that was better than expected.

Kospi surges on semiconductor strength

Australia’s ASX 200 took cues from Trump’s constructive peace talks with Iran, rising +1.3% and marking its largest one-day gain in four weeks. In results, JB Hi-Fi sank -6.3% after reporting sales growth short of expectations in the second half of FY26. The NZX 50 rose +0.8%, buoyed by Infratil’s (+13.2%) announcement that key portfolio company CDC had secured a record contract. In Asia, Korea’s Kospi rose +6.5%. The benchmark benefited from a chip-driven rally, with chipmakers Samsung Electronics and SK Hynix gaining +16.0% and +11.0% respectively—the former joining the US$1 trillion market cap club. China’s CSI 300 and Shanghai Composite gained +1.5% and +1.2% respectively. Japan’s Nikkei 225 increased +0.4% while Hong Kong’s Hang Seng rose +1.2%

WTI Crude falls steeply, Gold and Iron Ore gain

WTI Crude fell -7.0% to US$95.10/bbl, Gold rose +3.1% to US$4,699.02/oz, while Iron Ore gained +0.4% to US$108.58/MT.