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The Economic Times

Asian shares inch higher as oil slips; Samsung Electronics seen posting 86 trillion won Q2 operating profit

AI Market Summary
Asian equities firmed as easing oil prices reduced inflation pressure and markets priced lower odds of a near-term Fed hike, shifting focus to earnings and AI-led tech strength. Samsung's expected 18x profit jump underscores tight memory supply and strong AI-driven demand, supporting semiconductor and broader Asia tech sentiment. Risk assets benefited, while crude weakness and steady USD dynamics tempered macro uncertainty.
Impact level
● Medium
Affected assets
NCSKSAMSUNG2USD/USDT-0.99%
AI Insight · NCSKSAMSUNG2USD/USDTAI Insight
▲ Bullish
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Samsung Electronics is set to report its 2024 second-quarter results on Tuesday, with the market looking for operating profit of 86 trillion won ($56.35 billion), up 18-fold from a year earlier. Expectations are being driven by AI-led demand for memory chips and tight supply, which have helped lift South Korea’s stock market 92% so far this year. Japan’s Nikkei 225 dipped 0.1%, while Asian tech shares broadly strengthened. MSCI’s Asia-Pacific index excluding Japan rose 0.4%.
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