Asian stocks rose on October 28, 2026, following gains on Wall Street, as investors weighed renewed enthusiasm for artificial intelligence investment ahead of major technology earnings and a Federal Reserve interest-rate decision.

Key Takeaways

  • The MSCI Asia Pacific Index rose 0.6%, while South Korea’s Kospi gained 2.6%.
  • SK hynix shares climbed after the chipmaker reported quarterly operating profit above estimates.
  • Investors were awaiting earnings from Alphabet and Microsoft on Wednesday and Amazon on Thursday.

Asian stocks advance after US chip rally

Benchmarks in Australia, Japan and South Korea advanced during the Asian session. The gains followed a 3.6% rise in a closely watched US chipmaker gauge on Tuesday, October 27, when broader Wall Street benchmarks also moved higher.

A series of AI-related deals and fundraising announcements accompanied the recovery in technology shares. Oracle also expanded its partnership with OpenAI.

SK hynix results draw attention

SK hynix shares rose after the company reported third-quarter operating profit that beat estimates. Its preliminary third-quarter results showed operating profit of 83.3338 trillion won and revenue of 104.6155 trillion won.

The chipmaker said it plans approximately 100 trillion won in shareholder returns for 2026, including at least 30 trillion won in cash dividends and at least 60 trillion won in share repurchases and cancellations. The plan includes a 40 trillion won buyback announced in August that the company said was completed the previous week.

Fed decision and technology earnings ahead

The Federal Reserve was due to announce its rate decision on Wednesday. Policymakers were expected to hold rates steady, while investors watched for any indication of the outlook for December.

Alphabet and Microsoft were scheduled to report earnings on Wednesday, with Amazon due on Thursday. Elsewhere, Brent crude broadly held its losses from the previous session, Treasuries were little changed in New York trading, and the dollar edged higher.

Next milestone

The next scheduled events were the Fed decision and Alphabet and Microsoft earnings on October 28, followed by Amazon’s results on October 29.

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