Asian markets have followed Wall Street’s cue on Tuesday, November 10, edging higher as AI and semiconductor-linked markets found buying interest and a fall in oil prices further boosted sentiment.
South Korea’s KOSPI is the best performing index in the Asia Pacific on Tuesday, with a 4.5% advance, followed by the TAIEX in Taiwan, followed by the Nikkei in Japan, which gained 3%. The MSCI Asia Pacific Index is up over 2% as well this morning.
Futures on Wall Street are little changed this morning after a strong overnight rally ahead of the crucial inflation data that will be reported later this evening.
Stocks on Wall Street saw their biggest overnight rally in seven months after dip buying emerged in chip stocks, and crude oil prices fell.
In another AI-related development, Anthropic PBC could formally begin marketing its much-anticipated IPO as early as today, enabling it to make the case to investors.
“The sharp drop in oil prices has given markets some much-needed breathing room,” said Dilin Wu, a strategist at Pepperstone Group. “Investors are also buying back into stocks after last week’s brutal selloff. We still need to see whether buying interest can hold up.”
With Inputs From Agencies
Asian markets edge higher following Wall Street’s rebound; KOSPI, Taiwan jump up to 4%