Asian Shares Hit Records as AI Rally Spreads, Oil Slips on Iran Talks

Asian shares climbed on May 27, 2026, with multiple benchmarks reaching all-time highs, extending a global rally driven by artificial-intelligence demand and falling oil prices. South Korea’s Kospi jumped 4.9% to a record 8,457.09, led by a 7% surge in Samsung Electronics. Taiwan’s Taiex gained 2.7%, and Japan’s Nikkei 225 rose 1.3%, breaching 66,000 for the first time intraday. The tech-heavy Nasdaq composite also set its own record Tuesday. The advance was sparked by a 19.3% spike in Micron Technology (MU) after UBS analysts raised their price target to $1,625 from $535, citing robust memory-chip demand. AI-mania continued to fuel semiconductor shares across the region. Oil prices retreated on hopes for a U.S.-Iran deal to end a war that has blocked the Strait of Hormuz. Brent crude fell 94 cents to $95.73 a barrel, while U.S. crude lost $1.35 to $92.54. The decline eased pressure on U.S. bond yields, with the 10-year Treasury slipping to 4.48% from 4.56%. Consumer confidence edged lower in May, but markets focused on potential peace dividends.