FTSE 100 Hits Record High Amid Tech Stock Sell-Off: How Markets React

London's FTSE 100 index surged to a fresh high of 10,951 points, driven by strong corporate results as investors pulled money away from tech and semiconductor stocks. This marks its highest level since 27 February, the day before US and Israel's attacks on Iran triggered market volatility. The index closed up 0.3% at 10,908, narrowly missing its February record of 10,910.

■Standard Chartered and Rio Tinto boosted shareholder payouts, providing market support.

■The sell-off in tech stocks, coupled with SK Hynix's disappointing earnings and Samsung's decline, sent South Korea's Kospi and Japan's Nikkei tumbling.

■Brent crude rose over 7% to $90/barrel following reports of US military strikes on Iranian missile sites.

■Apple shares briefly crossed the $5 trillion valuation mark amid investor flight to safety.

The FTSE 100's resilience stems from its limited exposure to tech stocks and heavy weighting in finance and energy sectors. Investors' retreat from AI-driven stocks has shifted focus to corporate earnings, creating a divergence in market dynamics.