Asian stocks advance on AI and Wall Street gains
Asian markets rose notably, supported by gains in artificial intelligence company stocks. The South Korean Kospi index increased by 2.20%, and the small-cap Nasdaq rose by 1.12%. Australian, Chinese, and Hong Kong indices also saw gains ranging from 0.21% to 0.83%. In line with global influences, the S&P 500 had its best single-day performance since August, rising by 1.5%, driven by a surge in major tech stocks, especially AMD, which reached a market capitalization of one trillion dollars. The yield on the 10-year U.S. Treasury bond fell to 4.951%, amid ongoing economic tensions related to interest rate hikes and shifts in global markets.
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