Business · Markets · 5 hrs ago
Asian Stocks Rise After US Tech Rally and Oil Price Drop
Asian stocks rose as markets followed gains on Wall Street.
A rally in US technology shares helped lift stocks, with the S&P 500 recording its biggest one-day gain since April 8 and the Nasdaq 100 rising 3.4%.
South Korea’s Kospi gained more than 5% in early trading, while Japan’s Nikkei rose nearly 3%.
Oil prices also fell, with Brent crude dropping almost 6% in the previous session to settle below $93 a barrel, easing some inflation concerns.
Investors had recently sold chipmakers over worries about tighter US rules for the artificial intelligence industry, but the rebound does not eliminate risks from high expectations and crowded investments.
Investors are watching US inflation data due Tuesday, which is expected to show smaller consumer price increases than in September.
Anthropic can also begin formally marketing its planned IPO as early as Tuesday.
Asian stocks climbed after gains in US technology shares and falling oil prices boosted market sentiment.
South Korea’s Kospi rose more than 5% in early trading, while Japan’s Nikkei 225 gained nearly 3%.
A broad gauge of Asian shares advanced 1.5%, and US benchmark futures edged higher.
The gains followed a strong Monday session on Wall Street, when the S&P 500 rose the most since April 8.
Brent crude had fallen almost 6% in the previous session, settling below $93 a barrel.
- Who
- Asian stock markets and US equity benchmarks.
- What
- Asian stocks rose, following a US technology-led rally and falling oil prices.
- When
- Asian shares climbed after Wall Street’s Monday rally; the sources do not give a date for the Asian trading session.
- Where
- Asian markets, including South Korea and Japan, tracking gains on Wall Street.
- Why
- A rally in technology shares and a decline in oil prices boosted sentiment.
This story does not have two clearly opposing sides.
The S&P 500 rallied the most since April 8, while the Nasdaq 100 ended 3.4% higher.
Brent crude slumped almost 6% to settle below $93 a barrel.
South Korea’s Kospi jumped more than 5% and Japan’s Nikkei 225 rose nearly 3%.
- Kospi
- Rose more than 5% in early trading
- Nikkei 225
- Rose nearly 3%
- Broad Asian shares
- Advanced 1.5%
- Brent crude
- Fell almost 6% to settle below $93 a barrel
- Nasdaq 100
- Ended Monday 3.4% higher
3 sources
What people are saying
We continue to see economic conditions as supportive of corporate fundamentals
But the rebound does not remove the risks created by concentrated positioning and elevated expectations
There’s good reason to believe the stock market’s long-term rally is intact, especially given that the selloff overshadowed another week of strong economic data.