Asia stocks ride tech wave higher, oil stays subdued
- South Korean stocks opened sharply higher on Tuesday, led by gains in tech heavyweights and AI-linked trades following a record close for the Nasdaq Composite.
- United States markets rallied, with the Nasdaq Composite rising 2.3 percent and the Dow Jones Industrial Average adding 0.7 percent, boosting investor sentiment across Asian regions.
- The benchmark KOSPI rose 2.2 percent to 7,161.61, while the won appreciated 1.6 percent; market analyst Zavier Wong noted that Korea's chip export demand remains strong despite global headwinds.
- Indonesian stocks fell more than 1 percent, with the rupiah depreciating 0.4 percent ahead of a Bank Indonesia rate decision where policymakers are expected to hold rates at 5.75 percent.
- Elsewhere, Asian currencies broadly firmed against the dollar, including the Philippine peso, Taiwan dollar, and Singapore dollar, as the Philippines reached 'substantial agreement' on a free-trade deal and Vietnamese leader Lam reported positive United States trade negotiations.
24 Articles
24 Articles
Asia stocks ride tech wave higher, oil stays subdued
By Wayne Cole SYDNEY, Sept 23 (Reuters) - Asian shares were aiming for a sixth session of gains on Wednesday as signs of consumer demand for AI apps continued to buoy tech stocks, while oil prices faltered on reports of increased supply out of the Midd...
S.Korean stocks, won lead Asian gains as AI trade rebounds
SOUTH Korean stocks and the won led gains across Asian markets on Tuesday, as investors returned to AI-linked trades after a rally in US chipmakers and tech stocks, while Indonesian stocks and the rupiah fell a day ahead of a central bank rate decision.
Global Market Today: Asian stocks climb after tech shares power Wall Street
MSCI Inc.’s gauge of Asian shares climbed 0.5%, with memory chipmakers Samsung Electronics Co. and SK Hynix Inc. the top contributors to gains. South Korea’s benchmark Kospi Index jumped more than 2%. Contracts for US benchmarks edged higher after the S&P 500 and Nasdaq 100 posted their best days since early August.
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