Business · Markets · 1 hr ago

Asian markets rise as Wall Street rally lifts technology shares

Asian markets rise as Wall Street rally lifts technology shares

Asian stock markets rose after Wall Street’s rally helped them recover from sharp losses the previous week.

Japan’s Nikkei gained 2.6% in one account, while another put its rise at 2.8%; South Korea’s Kospi rose about 4%.

Technology and chip shares drove much of the advance, including gains by Samsung Electronics, SK Hynix and Tokyo Electron.

SoftBank Group shares also jumped ahead of its earnings release, after falling to a one-year low on Monday.

The rebound followed concerns that political pressure and high borrowing costs could slow construction of data centers used for artificial intelligence.

Those concerns matter because fewer data-center projects could reduce demand for AI-related products and services.

U.S. stock futures edged higher and oil prices fell, while Asian markets ended broadly higher.

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