AI trade, Nikkei 225, Hang Seng Index
A stunning sunset view over Osaka towards the Dojima River, showcasing the modern city skyline of Osaka. The vibrant orange hues of the sunset create a beautiful contrast against the backdrop of the city.
©Fitopardo | Moment | Getty Images
Asian markets experienced a downturn on Tuesday, diverging from the positive trend seen on Wall Street. The optimism surrounding artificial intelligence and the potential resolution of the U.S. government shutdown fueled gains in tech stocks.
On Monday, Nvidia stocks surged 5.8%, leading the S&P 500 higher. Other tech giants such as Alphabet and Microsoft also posted gains, breaking their losing streak.
Despite a positive start, Japan’s Nikkei 225 index declined by 0.42%, with AI-related stocks SoftBank and Renesas Electron registering modest gains.
Orix shares rose 0.49% following the announcement of a $2.5 billion private equity fund in partnership with Qatar Investment Authority, focused on investing in Japanese companies.
Sony Group’s stock surged over 6% after reporting strong second-quarter earnings and unveiling a significant share buyback program.
South Korea’s Kospi index managed to eke out gains, while Australia’s S&P/ASX 200 reversed its course to trade lower.
In Hong Kong, the Hang Seng Index fell by 0.2%, while China’s CSI 300 index dropped by 0.67%.
Chinese electric vehicle maker Xpeng saw a substantial increase in its stock price after launching innovative products featuring self-developed AI chips.
Indian markets, represented by the Nifty 50 and Sensex index, experienced minor losses.
U.S. equity futures showed little movement during early Asian trading hours.
On the previous day, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all recorded significant gains.
— This article includes contributions from CNBC’s Dylan Butts, Sean Conlon, and Liz Napolitano.
