Highlights
- ASX 200: Closed 0.5% higher at 8,850.1
- Japan: Nikkei 225 jumped 1.7%.
- South Korea: Kospi rallied around 4%.
- Wall Street: S&P 500 rose 0.7%, Nasdaq 0.8%, Dow 0.3%.
ASX closes at seven-week high
Asian sharemarkets were mostly higher on Tuesday as renewed enthusiasm for artificial intelligence stocks lifted Japan and South Korea, while Australian equities finished at a seven-week high.
Wall Street provided a positive lead after major US indices advanced overnight, with investors also positioning ahead of major technology earnings and the Federal Reserve’s interest rate decision.
ASX closes higher
The S&P/ASX 200 closed 0.5% higher at 8,850.1, its strongest finish in around seven weeks.
Mining stocks helped lead the advance as investors returned to resource names, while the broader market recovered from a softer start.
Japan and Korea rally
Japan’s Nikkei 225 jumped 1.7% to 63,232.37 as semiconductor and technology stocks rebounded following renewed optimism around the artificial intelligence sector.
South Korea’s Kospi was one of the region’s strongest performers, gaining around 4% as SK Hynix and Samsung Electronics rallied.
Hong Kong and mainland Chinese markets were softer, with the Hang Seng and Shanghai Composite edging lower as investors remained cautious ahead of key policy and central bank developments.
India steadies
Indian equities recovered from early declines, with the Sensex up around 0.1% at 73,648 and the Nifty 50 around 0.2% higher at 22,788 in mid-morning trade.
Technology stocks weighed on the market, while gains elsewhere helped the benchmarks return to positive territory.
Wall Street advances
The S&P 500 gained 0.7% overnight to 7,676.77, while the Nasdaq Composite rose 0.8% to 26,169.38.
The Dow Jones Industrial Average added 0.3% to 52,361.58 as artificial intelligence and semiconductor stocks recovered.
Investors are now looking ahead to results from Alphabet, Microsoft and Amazon, alongside the Federal Reserve’s policy decision.
Commodities
Oil prices eased from recent highs, with Brent crude around US$115 a barrel and West Texas Intermediate near US$101.
Gold was trading around US$4,024 an ounce, while investors continued to monitor Middle East developments and their impact on energy markets.
