Asian Stocks Rise on Tech, Nasdaq Futures Slip - Asia Market Wrap
Asian stocks rose 0.9%, led by technology shares in South Korea and Japan, as Wall Street benchmarks snapped a two-day losing streak. Chip heavyweights SK Hynix and Samsung Electronics rallied over 4% ahead of earnings later this week. The advance in equities moderated, with Nasdaq 100 futures slipping 0.2% and European shares set to drop 0.3% at the open. Tech fundraising remained a key sentiment driver, with Meta Platforms seeking to raise as much as $97.5 billion through stock sales, Broadcom arranging a $63 billion deal to finance a chip acquisition, and SpaceX signing a roughly $40 billion equipment-finance lease. Elsewhere, Brent crude fell 0.7% to about $115 a barrel as senior officials from several countries travelled to Iran to revive talks aimed at preventing a broader Middle East escalation. The AI trade faces a test later this week as Alphabet and Microsoft report Wednesday, followed by Amazon and Intel on Thursday. Investors will focus on spending plans and returns on AI investment, with some remaining cautious about calling the rebound a sustained recovery.
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Asian stocks rose 0.9%, led by technology shares in South Korea and Japan, as Wall Street benchmarks snapped a two-day losing streak. Chip heavyweights SK Hynix and Samsung Electronics rallied over 4% ahead of earnings later this week. The advance in equities moderated, with Nasdaq 100 futures slipping 0.2% and European shares set to drop 0.3% at the open. Tech fundraising remained a key sentiment driver, with Meta Platforms seeking to raise as much as $97.5 billion through stock sales, Broadcom arranging a $63 billion deal to finance a chip acquisition, and SpaceX signing a roughly $40 billion equipment-finance lease.
Elsewhere, Brent crude fell 0.7% to about $115 a barrel as senior officials from several countries travelled to Iran to revive talks aimed at preventing a broader Middle East escalation. The AI trade faces a test later this week as Alphabet and Microsoft report Wednesday, followed by Amazon and Intel on Thursday. Investors will focus on spending plans and returns on AI investment, with some remaining cautious about calling the rebound a sustained recovery.