Global Market Today: Asian stocks jump with US futures on Micron outlook

Asian stocks rallied sharply after Micron's quarterly sales forecast crushed Wall Street estimates, with Nasdaq 100 futures up almost 2 percent and South Korea's Kospi surging nearly 5 percent. The upbeat outlook for AI-fueled memory chip demand also lifted SK Hynix, which announced plans for a about $29 billion US stock listing and jumped as much as 11 percent. Easing inflation concerns and a slide in oil prices below $74 per barrel further supported sentiment, while the 10-year US Treasury yield plunged 11 basis points to around 4.85 percent.