Zürcher Nachrichten - Asian stocks mixed after bumper TSMC results

It came after US stocks rebounded after two down days, while oil steadied as President Donald Trump stepped back from military action in Iran.

Taipei stocks surged 1.7 percent in morning trade after Washington said it had signed a deal with Taiwan to lower tariffs on goods from the self-ruled island.

Taiwan is a powerhouse in the manufacturing of semiconductor chips -- the lifeblood of the global economy -- as well as other electronics.

Taiwanese chip and tech firms will make "new, direct investments totaling at least $250 billion" in the United States to build and expand capacity in fields including advanced semiconductors and artificial intelligence, the US Commerce Department said.

Some market-watchers fear the frenzied bubble of excitement around AI, which has pushed global markets to record highs, could burst and cause a stock rout.

But TSMC, the world's biggest contract maker of chips, announced Thursday a forecast-busting net profit for the fourth quarter -- seen as a sign of sustained global demand for AI technology.

The company's shares jumped 4.4 percent on Wall Street, and were up 2.4 percent Friday in Taipei.

Analyst Gavin Friend said TSMC's strong annual capital expenditure forecast in particular would reassure those concerned over how long the AI boom can last.

"Increasingly, investors have been questioning the extent of the capex drive into data centres," he told the National Australia Bank's Morning Call podcast.

"I think the most important thing -- and they (TSMC) pretty much exceeded on everything -- was the upbeat outlook on things like capex, expected to be significantly higher over the next three years, that's given AI and tech stocks a much-needed shot in the arm."

- Oil steady -

The positive news spurred US markets, with the tech-rich Nasdaq piling on more than one percent early in the session behind large gains among leading chip companies.

But later in the day there was "kind of a roll-back in the megacap stock and semiconductors," said Briefing.com analyst Patrick O'Hare.

This weakening came after US Commerce Secretary Howard Lutnick indicated that semiconductor companies that don't build in the United States could face 100 percent tariffs.

All three US indices finished moderately higher, with the broad-based S&P 500 up 0.3 percent.

In Asia, Tokyo, Hong Kong, Shanghai, Mumbai and Kuala Lumpur posted marginal losses on Friday, while Sydney, Wellington, Jakarta, Bangkok and Singapore were all up.

Tech highflier Seoul was also up one percent.

Oil prices continued to steady as Washington stepped back from military action in Iran.

The United States on Thursday said Iran halted 800 executions of protesters under pressure from President Donald Trump, after Gulf allies appeared to pull him back from military action over Tehran's deadly crackdown on demonstrations.

Precious metals also stabilised as the geopolitical backdrop appeared to cool, with silver retracing most of its losses from a seven-percent plunge.

But the White House said Thursday that "all options remain on the table for the president", and announced new sanctions targeting Iranian officials.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: DOWN 0.4 percent at 53,885.97

Hong Kong - Hang Seng Index: FLAT at 26,918.40

Shanghai - Composite: FLAT at 4,109.613

Euro/dollar: UP at $1.1611 from $1.1605 on Thursday

Pound/dollar: UP at $1.3384 from $1.3377

Dollar/yen: DOWN at 158.39 yen from 158.63 yen

Euro/pound: FLAT at 86.75 pence

West Texas Intermediate: UP 0.1 percent at $59.23 per barrel

Brent North Sea Crude: DOWN 0.1 percent at $63.72 per barrel

New York - Dow: UP 0.6 percent at 49,442.44 (close)

London - FTSE 100: UP 0.5 percent at 10,238.94 (close)

E.Schneyder--NZN