Asian markets saw a mixed day of trading on Tuesday, with Tokyo’s Nikkei 225 leading the gains after a national holiday. The index surged 1.6%, driven by strong performances from semiconductor companies like Tokyo Electron and Advantest. South Korea’s Kospi also saw a significant increase of 2.1%, boosted by tech giants Samsung Electronics and SK Hynix.
However, Hong Kong’s Hang Seng index faltered, shedding 0.5%, while the Shanghai Composite index managed to recover from early losses to gain 0.3%. Australia’s S&P/ASX 200 advanced 1.3% after the central bank decided to keep interest rates unchanged.
In the U.S., tech stocks continued to drive the market higher, with Nvidia and Super Micro Computer leading the charge. Warren Buffett’s Berkshire Hathaway also reported positive quarterly results, helping to offset losses from companies like Spirit Airlines and Apple.
The U.S. stock market has been volatile in recent weeks, with concerns about inflation and interest rates weighing on investor sentiment. However, a cooler-than-expected jobs report at the end of last week provided a boost of optimism, with traders now betting on a nearly 89% chance of a rate cut by the Federal Reserve before the end of the year.
Looking ahead, corporate earnings reports have been better than expected, both in the U.S. and globally. Companies like The Walt Disney Co. and Uber Technologies are still set to report their earnings, with analysts predicting a second straight quarter of earnings growth after several quarters of decline.
In commodity markets, both benchmark U.S. crude oil and Brent crude saw slight gains in trading. The dollar also rose against the Japanese yen and remained stable against the euro.
Overall, the global markets continue to navigate uncertainties around inflation, interest rates, and corporate earnings, with investors closely watching for any signs of economic recovery and stability.
