Asian Stocks Rise as Tech Gains Offset Geopolitical Risks
Asian stocks rose Thursday as tech gains offset U.S.-Iran tensions. Investors stayed cautious after Fed minutes signaled that interest rate cuts are unlikely.
Insights:
Asian equities climbed on Thursday as a surge in the technology sector and reports of a major chip deal outweighed signals from the Federal Reserve that interest rate cuts are not imminent. The market rally was bolstered by news that NVIDIA Corporation has signed a multiyear agreement to sell millions of artificial intelligence chips to Meta Platforms, Inc. . This development coincided with the release of Federal Reserve minutes showing that policymakers in the United States 
US were in no rush to cut interest rates, a stance that helped shape regional currency and rate expectations.
US were in no rush to cut interest rates, a stance that helped shape regional currency and rate expectations.Performance across the region was broadly positive, with the MSCI Asia-Pacific ex-Japan 
JP rising 0.5 percent. In Japan, the Nikkei gained 0.85 percent, while South Korea 
KR saw its Kospi index jump approximately 3 percent to reach a new record high. These gains were mirrored in other major hubs including Singapore 
SG, Hong Kong 
HK, China 
CN, and Taiwan 
TW, while markets in New Zealand 
NZ also reacted to the global shifts. The technology sector remained the primary driver of the upward momentum following the high-profile Nvidia-Meta announcement.
JP rising 0.5 percent. In Japan, the Nikkei gained 0.85 percent, while South Korea KR saw its Kospi index jump approximately 3 percent to reach a new record high. These gains were mirrored in other major hubs including Singapore SG, Hong Kong HK, China CN, and Taiwan TW, while markets in New Zealand NZ also reacted to the global shifts. The technology sector remained the primary driver of the upward momentum following the high-profile Nvidia-Meta announcement.
