Norway’s sovereign-wealth fund posted a record first-half profit, buoyed by Asian technology-stock gains. Norges Bank Investment Management said its portfolio returned 9.4% in the first half, making a profit of 1.753 trillion Norwegian kroner ($184.70 billion) before foreign-exchange effects. This compares with a profit of 698.47 billion kroner a year earlier, marking the fund’s highest half-year krone return on record.

“The result is driven by good returns in the equity market, particularly from Asian technology stocks,” Chief Executive Nicolai Tangen said. The fund holds stakes in around 7,200 companies, owning almost 1.5% of all shares in the world’s listed companies. It recently disclosed a 0.05% stake in Elon Musk’s SpaceX valued at around $1.23 billion.

Equity investments returned 16% in the second quarter, swinging back from a 2.6% loss in the first quarter. The strong performance helped the fund return 11.5% for the second quarter, recovering from a negative return of 1.9% in the first.