Asian stock markets mostly saw gains following another positive day on Wall Street, though shares in China experienced slight declines.
After being closed for a holiday, Tokyo’s Nikkei 225 leapt 1.5% to 38,784.91, and South Korea’s Kospi climbed 1.9% to 2,728.05.
The yen weakened after Japan’s chief currency official, Masato Kanda, remarked that the government didn’t need to step in as long as the market was functioning normally.
The Hang Seng index in Hong Kong fell by 0.9% to 18,420.38, and the Shanghai Composite index slightly decreased by 0.1% to 3,136.62. Recent data on travel, retail spending, and home sales during China’s Golden Week holidays indicated ongoing economic challenges.
Australia’s S&P/ASX 200 grew 0.7% to 7,739.00 in anticipation of a central bank interest rate decision.
Taiwan’s Taiex increased by 0.3%, and India’s Sensex was nearly unchanged as the country entered the third phase of its extensive national elections.
On Monday, the S&P 500 rose by 1% to 5,180.74, the Dow Jones Industrial Average gained 0.5% to 38,852.27, and the Nasdaq Composite surged 1.2% to 16,349.25.
Tech stocks led the charge, with Nvidia and Super Micro Computer driving gains.
Despite recent setbacks, excitement around artificial intelligence technology has pushed Nvidia up by 86.1% for the year, following a 3.8% rise on Monday. Super Micro has increased by 192.1% after climbing 6.1%.
