TOPIX index climbed 1.5% to a record high of 3,534.46 points, supported by broad-based buying across technology, industrial, and export-oriented stocks

Most Asian stock markets extended sharp gains on Tuesday, with Japanese shares hitting new record highs as technology and chipmaking stocks continued to rally, while South Korean equities edged lower from peaks ahead of Samsung earnings later this week.

TOPIX index climbed 1.5% to a record high of 3,534.46 points, supported by broad-based buying across technology, industrial, and export-oriented stocks.

The Nikkei 225 also hovered near record highs, up 0.7%, underpinned by heavyweight semiconductor and electronics names.

Chipmaker Renesas Electronics Corp gained 3%, while Rohm Ltd rose more than 2%.

Across the region, technology and chipmakers led gains, extending momentum built late last year. Investors continued to position for surging AI demand, particularly from data centres and advanced computing, while an ongoing supply crunch in key chip segments has bolstered pricing power and earnings expectations for major producers.

Hang Seng rose 1.2%, with Hang Seng TECH sub-index jumping nearly 2%.

In Mainland China, the blue chip Shanghai Shenzhen CSI 300 added 0.5%, while the Shanghai Composite index advanced 0.6%.

KOSPI slid 0.4% from record highs reached in the previous session, as some investors locked in profits and adopted a more cautious stance ahead of Samsung Electronics’ earnings report due later this week.

Markets are closely watching the results for guidance on memory chip pricing and AI-driven demand trends. Despite the slight retreat, South Korean equities remained near higher levels, reflecting continued optimism around the semiconductor cycle.

Elsewhere in Asia, sentiment was also positive.

Straits Times Index added 0.8% on Tuesday, while S&P/ASX 200 declined 0.4%.