Asian stocks rise following Wall Street technology rally
Major indices in Japan, South Korea, and Taiwan gained value on Tuesday as US markets recovered from previous losses.
Asian equity markets advanced on Tuesday, following a rally in US stocks that helped recover much of last week's losses, according to The New Indian Express and BusinessLine. US futures edged higher while oil prices saw a decline.
In Japan, the Nikkei 225 index increased 2.6 per cent to 60,279.37. SoftBank Group shares rose 15 per cent ahead of an earnings release, following a one-year low on Monday. Other Japanese gains included Tokyo Electron, which climbed 5.6 per cent, and Advantest, which rose 3.4 per cent.
South Korea's Kospi climbed 4 per cent to 5,219.37, with chipmakers Samsung Electronics and SK Hynix gaining 4.6 per cent and 5.6 per cent respectively. Taiwan's Taiex advanced 3.4 per cent, while Australia's S&P/ASX 200 rose 1.1 per cent to 9,131.70.
In Hong Kong, the Hang Seng grew 0.4 per cent to 24,535.74, and the Shanghai Composite index rose 0.4 per cent to 3,673.54. Chinese customs data released on Tuesday showed October exports rose 35.2 per cent and imports grew 41.6 per cent from the previous year.
The US S&P 500 rose 2.3 per cent on Monday, marking its second consecutive gain. This followed concerns regarding AI data centre construction after Democratic victories in the US midterm elections. Meanwhile, Brent crude fell to $91.74 a barrel after President Donald Trump told CNN that resuming strikes on Iran is "highly unlikely" if negotiations progress.