Asian Shares Mostly Higher; Nikkei Outperforms On Weak Yen

RTTNews | vor 231 Tagen
Asian Shares Mostly Higher; Nikkei Outperforms On Weak Yen

(RTTNews) - Asian stocks were mostly higher on Tuesday after a rally in technology shares boosted Wall Street's main indexes overnight.

The dollar index edged higher in Asian trade, after having fell as much as 1 percent during intraday trading on Monday.

Treasuries were little changed after the yield on the 30-year note climbed to the highest in more than a year on Monday.

Oil steadied after its first drop in six sessions while gold ticked higher as investors awaited more U.S. economic data this week for additional clues on the Fed's rate trajectory.

China's Shanghai Composite index was marginally higher, with tech stocks in focus after the United States has placed Tencent Holdings Ltd. and Contemporary Amperex Technology Co. Ltd. on a blacklist due to alleged links to the Chinese military. Hong Kong's Hang Seng index slipped 0.3 percent amid jitters around the yuan.

Japan's Nikkei average jumped 2.3 percent as the yen dropped to its lowest since July 2024 against the dollar, helping lift export-related shares.

South Korea's Kospi average was up over 1 percent after Foxconn, the world's biggest contract manufacturer of Apple iPhones, beat expectations to post its highest-ever revenue for the fourth quarter.

Australia's benchmark S&P/ASX 200 edged up by 0.3 percent and New Zealand's benchmark S&P/NZX-50 index was down 0.4 percent.

U.S. stocks rose broadly overnight, the dollar dropped and yields on long-term Treasury securities edged higher as Foxconn reported record fourth-quarter revenue and President-elect Donald Trump called reports about him considering scaling back his tariff plans, "fake news."

The tech-heavy Nasdaq Composite climbed 1.2 percent and the S&P 500 gained 0.6 percent while the narrower Dow finished marginally lower.

European stocks rose the most in over a month on Monday after reports emerged that the incoming Trump administration may explore softer-than-expected tariffs.

The pan European STOXX 600 advanced 1 percent. The German DAX rallied 1.6 percent, France's CAC 40 surged 2.2 percent and the U.K.'s FTSE 100 added 0.3 percent.

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