Asian stocks rally on Wall Street gains, AI stocks lead
Summarised from 2 outlets · 4 reports · Updated 27 Oct, 04:38 · Archive
Asian stocks advanced Tuesday following gains on Wall Street, with AI-related stocks leading the charge.
Asian stocks advanced Tuesday following an AI-led rally on Wall Street. South Korea's Kospi jumped 3.6% to 5,667.99 by midday, with computer chipmaker SK Hynix surging 7% and Samsung Electronics gaining 4.8%. Tokyo's Nikkei 225 added 2.2% to 63,542.77, with testing equipment maker Advantest jumping more than 10% and OpenAI investor SoftBank Group climbing 7%. Hong Kong's Hang Seng slipped 0.2% to 23,174.44, while Shanghai Composite edged 0.1% lower. In Australia, the S&P/ASX 200 advanced 0.3%.
On Monday, the S&P 500 rose 0.7% and more than recovered its losses from the previous week, pulling within 1.8% of its all-time high set earlier in the month. The Dow Jones Industrial Average added 0.3% and the Nasdaq composite climbed 0.8%. Nvidia rose 2.4%, recovering some of its drop from three straight losing weeks, its longest such streak since June.
However, stocks elsewhere in the artificial-intelligence industry remained unsettled. Traders expressed worries about whether the industry's boom is under threat because of how expensive it has become for companies to borrow money to build data centres and purchase AI chips. Traders were also watching for announcements from a closed-door high-level meeting of China's ruling Communist Party.
How it is being reported
- Asian stocks advance following a rally on Wall Street and oil prices fallAsian stocks are mostly higher, with benchmarks in Tokyo and Seoul lifted by buying of AI-related stocks.News4Jax · 27 Oct, 07:10
- Asian stocks advance following a rally on Wall Street and oil prices fallAsian stocks are mostly higher, with benchmarks in Tokyo and Seoul lifted by buying of AI-related stocks.Clickorlando · 27 Oct, 07:10
- US futures and Asian stocks advance following a rally on Wall StreetAsian stocks are mostly higher, with benchmarks in Tokyo and Seoul lifted by buying of AI-related stocks.Clickorlando · 27 Oct, 04:05
- US futures and Asian stocks advance following a rally on Wall StreetAsian stocks are mostly higher, with benchmarks in Tokyo and Seoul lifted by buying of AI-related stocks.News4Jax · 27 Oct, 04:05
In this story: South Korea · Japan · China · Australia · SK Hynix · Samsung Electronics · Nvidia · SoftBank Group
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