U.S. Stocks Lead Global Rally as Semiconductor Surge Offsets War and Oil Price Worries, Yen Falls to 40-Year Low Against Dollar

BlockBeats News, July 22nd. On Tuesday, global stock markets surged, with the U.S. stock market showing particularly strong performance. According to BIT (bit.com) market data, all three major U.S. indexes closed up. The Nasdaq rose by 1.29%, the S&P 500 rose by 0.89%, and the Dow rose by 0.74%. In terms of individual stocks, Nvidia rose by 1.97%, Tesla rose by 2.53%, Intel surged by 8.63%, and Micron Technology rose by 6.68%.

The Philadelphia Semiconductor Index of the U.S. stock market closed up by 5.21%, marking the largest single-day gain since June 22nd. The storage sector saw a strong rebound, with all four U.S. storage "Big Dragons" surging by over 10%. SpaceX rose by over 3%, ending a 7-day losing streak. The U.S. optical communication sector saw across-the-board gains, with the pure-play photonics ETF FOTO surging by over 9%, Coherent rising by over 11%, Lumentum rising by over 9%, Corning rising by over 6%, and Credo rising by over 5%.

According to Bitget market data, on Tuesday, the Nikkei 225 Index closed with a 3.26% gain, and the South Korean KOSPI Index closed with a 3.56% gain. SK Hynix rose by 4%, and Samsung Electronics rose by 6.1%.

On Tuesday, the A-share market witnessed a miraculous day, with the Shanghai Composite Index closing at 3864.4 points, the ChiNext Index surging by over 10%, marking the highest single-day gain of the year, and the semiconductor sector experiencing a wave of upward limit moves. Among the constituent stocks of the ChiNext semiconductor sector, Montage Technology, Huahong Grace, and Ingenic Semiconductor all hit the 20% limit up.

In the Indian market, the largest asset management company, SBI Funds Management, debuted on the Mumbai Stock Exchange, closing up by 6.2% on its first day, with a market value of approximately $12.89 billion, becoming India's second-largest listed fund management company.

Despite the overall positive market trend, concerns about the U.S.-Iran conflict and rising oil prices persist. Tensions between the U.S. and Iran escalated, with the U.S. military conducting its 11th consecutive night of strikes against Iran, while Trump vowed to target the "Pickaxe Mountain" nuclear facility. At the same time, international oil prices surged due to supply concerns, the USD/JPY exchange rate continued to weaken, hitting its lowest point in 40 years. The Bank of Japan maintained its loose monetary policy, while the Federal Reserve kept interest rates relatively high, further widening the U.S.-Japan interest rate spread. This led to a continuous outflow of funds from Japan, causing a sharp depreciation of the yen.