Asian markets opened on a firm note on Tuesday as investors returned to technology and auto names after Nvidia announced new tie-ups and gave an upbeat outlook.
Japan and South Korea led the Asian markets rally, even as a fresh rise in oil prices kept geopolitical risk firmly in view.
The early move also fit a broader rebound across regional equities as the Asian markets hope for another day of gains while traders kept one eye on a crowded central-bank calendar.
Nikkei 225 and Kospi lead gains
Japan’s Nikkei 225 rose 0.75% in early trade, while the broader Topix gained more than 1%.
The tone in Tokyo was helped by renewed appetite for chip-linked and industrial stocks after Nvidia’s announcements improved sentiment toward the regional technology supply chain.
South Korea outperformed the rest of the major Asian markets, with the Kospi jumping 2.94% and the small-cap Kosdaq advancing 1.53% in early dealings.
The gains were supported by strength in large technology names, including SK Hynix and Samsung Electronics.
The markets were responding strongly to the latest read-through on artificial-intelligence hardware demand.
The scale of the rebound in Seoul also reflected how sensitive Korean equities have been to swings in global risk appetite and chip expectations.
Still, the move higher in Tokyo and Seoul was not taking place in a vacuum, because energy markets were simultaneously flashing caution.
Brent crude rose 2.91% to about $103 a barrel, and West Texas Intermediate climbed 2.29% to roughly $95 as uncertainty persisted.
Hang Seng and China’s CSI
Hong Kong stocks also opened on the front foot as the benchmark Hang Seng Index rallied in early Tuesday trading with technology shares rebounding.
At press-time the Hang Seng index was trading around 26,088.07 levels, almost 1% up from its previous close, while the Hang Seng Tech index is trading 1.34% higher at 5,180.49.
The upward move was largely driven by a rebound in technology stocks, boosting overall market sentiment during the morning session.
On the mainland, the CSI 300 was more measured but still positive, with the benchmark at 4,141.20, up 0.44% on the day.
That left China participating in the regional recovery, though with a more restrained gain than the sharper advances seen in Japan and South Korea.
Muted start for Indian markets
Indian benchmark indices opened on a positive note on Tuesday, supported by favorable global cues.
However, early gains faded, with the Sensex slipping 48.78 points, or 0.06%, to 75,454.07, while the Nifty declined 25.45 points to 23,383.35.
The Indian market breadth looked positive on Tuesday with 1,337 stocks advancing, 810 declining, and 182 remaining unchanged.
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