Asian stocks rebound amid Japanese and Korean gains
Asian stocks rose today, with the Japanese Nikkei 225 and the South Korean KOSPI both increasing by more than 0.6%, supported by improved sentiment in the technology sector ahead of Nvidia’s earnings, which are expected to reach approximately $92 billion in quarterly revenue. Meanwhile, the Australian S&P/ASX 200 index gained 0.7%, while the Chinese CSI 300 declined slightly by 0.1%. The Hang Seng index remained largely steady amid concerns about the sustainability of artificial intelligence investments. Stock performance was influenced by LG Innotek’s results, which surged by 5.6%, whereas Chinese Mituan’s shares fell by 5.4%, amid cautious trading related to Alibaba’s $10.2 billion share offering to fund AI projects. Investors are awaiting the release of the U.S. Personal Consumption Expenditures (PCE) inflation report scheduled for Wednesday, amid geopolitical concerns tied to U.S. sanctions on Iran and their impact on energy markets.
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