Asian stock markets mostly advanced on Tuesday, led by strong gains in Japan as investor sentiment improved following a landmark election victory, reports AP.
Japan’s benchmark Nikkei 225 surged 2.6 percent to a record 57,821.58, extending a rally that began Monday. Markets have climbed sharply since the ruling party’s landslide win in parliamentary elections cleared the path for Sanae Takaichi to become the country’s first female prime minister. Investors are betting the new leadership will press ahead with economic reforms to support growth and corporate earnings.
Elsewhere in the region, Australia’s S&P/ASX 200 rose 0.3 percent to 8,893.60, South Korea’s Kospi gained 0.6 percent to 5,327.80, Hong Kong’s Hang Seng added 1.0 percent to 27,300.00, and China’s Shanghai Composite edged up 0.2 percent to 4,130.20.
On Wall Street, US stocks finished higher after their strongest session since May, though concerns remain that valuations may be stretched. The S&P 500 climbed 0.5 percent to 6,964.82, moving closer to a record high. The Nasdaq composite gained 0.9 percent, while the Dow Jones Industrial Average ended largely unchanged.
Investors remain focused on whether heavy spending on artificial intelligence by major companies will deliver sufficient returns. Optimism around the sector boosted chipmakers, with Nvidia and Broadcom posting solid gains.
In bond markets, US Treasury yields were largely steady ahead of key economic data later this week, including employment and inflation reports, which could influence expectations for future Federal Reserve rate moves.
Gold rose 2 percent to $5,079.40 an ounce amid ongoing volatility, while silver posted a sharp jump. Bitcoin hovered just below $71,000 after recent swings.
Oil prices were little changed in early Asian trading. The US dollar edged slightly lower against the Japanese yen, while the euro weakened modestly against the dollar.
Bd-pratidin English/ Jisan
