- Asian stocks mostly rose following a strong Wall Street rally led by tech shares
- Japan's Nikkei 225 gained 1.38%, South Korea's KOSPI rose 1.87%, Australia edged up 0.11%
- US S&P 500 climbed 1.5%, Nasdaq Composite jumped 2.3%, Dow Jones gained 0.7%
Asian stock markets traded mostly higher on Tuesday after a strong rally in US technology shares lifted Wall Street. Japan's Nikkei 225 rose 1.38%, while South Korea's KOSPI gained 1.87%. Australia's S&P/ASX 200 edged up 0.11%, while the Shanghai Composite was broadly unchanged.
The gains followed a strong session on Wall Street, where renewed enthusiasm around artificial intelligence lifted the major benchmarks. The S&P 500 climbed 1.5%, its strongest session since Aug. 4, while the Nasdaq Composite jumped 2.3% to record its first closing high since June. The Dow Jones Industrial Average gained 366 points, or 0.7%.
US semiconductor stocks led the technology rally, with an index tracking the sector rising more than 4%. Meta surged 11%, while Advanced Micro Devices crossed the $1 trillion market-capitalisation mark. The Nasdaq 100 advanced 2.8%.
Oil prices remained in focus after a sharp decline in the previous session. Brent crude held around $100 a barrel after falling 3.4%, while West Texas Intermediate dropped 4.5% to $95.78 a barrel. Brent settled more than 3% lower at $100.34 a barrel.
The decline in crude came as concerns over Middle East supply eased and investors assessed efforts to bring the US-Iran conflict to an end. Saudi Arabia's oil loadings from the Persian Gulf also increased over the weekend, with the number of vessels at its main Gulf port reaching the highest level since June, according to satellite data.
US President Donald Trump told Fox News he would "probably" consider meeting Iranian President Masoud Pezeshkian on the sidelines of the UN General Assembly in New York this week.
The Wall Street Journal also reported that the Trump administration had proposed a $5 billion fund to help Middle Eastern countries rebuild energy infrastructure damaged during the Iran war.
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