Asian stocks surge as investors look past Middle East attacks

Asian stocks surged on Friday, led by chip and AI firms, as investors looked past escalating US-Iran tensions and concerns over Strait of Hormuz energy supplies. Japan's Nikkei rose 1.8 percent and South Korea's KOSPI gained 2.4 percent, with SK Hynix and Samsung up 3 percent ahead of SK Hynix's US ADR debut which raised about 26.5 billion dollars at 149 dollars per share. Brent crude was set for a 5 percent weekly gain at 76.03 dollars per barrel, while the Japanese yen hovered near a 40-year low around 162.18 per dollar, and traders priced in 34 basis points of US rate hikes for the year.