Asia Shares Rise as US Tech Rally Lifts Regional Markets
Asian indices climbed Tuesday following a strong US session where the Nasdaq hit a record high.
Key points
- South Korea's Kospi index rose 1.6 percent to 7,120.25, leading Asian market gains.
- The Nasdaq composite hit a record high of 27,122.09, driven by AI stock strength.
- The 10-year US Treasury yield eased to 4.95 percent as oil prices retreated.
Asian equity benchmarks rose on Tuesday, driven by the overnight surge in Wall Street. The South Korean Kospi index jumped 1.6 percent to close at 7,120.25.
This gain led regional performance as investor sentiment improved after Monday's US rally. Australia's S&P/ASX 200 added 0.2 percent to reach 8,748.20.
US tech stocks drive global gains
The Nasdaq composite climbed 2.3 percent to an all-time high of 27,122.09. Artificial intelligence sector leaders fueled this specific sector's strong performance.
The S&P 500 rose 1.5 percent, ending 0.4 percent below its record high. This recovery signals a return of confidence in high-growth technology assets.
Oil prices ease pressure on bonds
Crude oil prices retreated from last week's peak, reducing inflation concerns. Brent crude traded at $100.99 per barrel, down from nearly $110.
This decline helped lower the 10-year US Treasury yield to 4.95 percent. It had previously crossed the 5 percent threshold for the first time since 2023.
Currency markets show modest movement
The US dollar strengthened slightly against the Japanese yen, reaching 157.43. The euro also gained ground, trading at $1.1474.
These shifts reflect the broader risk-on tone across global financial markets. Traders are positioning for continued stability in the coming sessions.
