SHANGHAI, CHINA – MARCH 1: Skyscrapers in Pudong Lujiazui financial district on March 1, 2022 in Shanghai, China.
Xiaoyang | China Visual Group | fake images
Asia-Pacific markets were mixed on Tuesday after Wall Street technology stocks rallied following a rally in parent company Google. and hopes of a Fed rate cut.
Optimism about Alphabet’s position in the AI ​​race began last week after the tech giant announced its improved AI model, Gemini 3. The stock closed up 6.31% on Monday. Other AI-related actions, such as Broadcom and Micron technologyalso rose, building on a broader rally that began on Friday, when the head of the New York Federal Reserve left the door open to an interest rate cut in December.
Japan’s landmark Nikkei 225 The index closed flat at 48,659.52 and the Topix index fell 0.21% to finish at 3,290.89.
AI-related stocks were among the biggest gainers on the Nikkei 225, with semiconductor test equipment provider more advanced trading 4.18% higher and Tokyo Electron, which provides essential chip-making equipment to foundries that make Nvidia chips, gained 3.05%. However, the chip equipment maker lasertec gave up previous gains and closed flat.
South Korea’s Kospi index rose 0.3% to close at 3,857.78, while the small-cap Kosdaq pared earlier gains to close flat at 856.03. Index Heavyweights SK Hynix fell 0.19% and Samsung Electronics rose 2.69%.
Australia’s ASX/S&P 200 closed up 0.14% in volatile trading at 8,537.
from hong kong Hang Seng Index and the Hang Seng Technology Index trimmed gains to 0.22% and 0.42%, respectively. The mainland’s CSI 300 rose 0.99%.
India’s Nifty 50 was flat in early trade, while the BSE Sensex index trimmed gains to settle above the flat line.
U.S. stock futures were little changed in early Asian trading.
Overnight, the S&P 500 rose 1.55% to close at 6,705.12, while the Nasdaq Composite jumped 2.69% to close at 22,872.01. It was the tech index’s best day since May 12, when it rose 4.35%. The Dow Jones Industrial Average rose 202.86 points, or 0.44%, to finish at 46,448.27.
— CNBC’s Sean Conlon and Yun Li contributed to this report.
