No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
Market latest
FTSE 100 | FTSE 250 | Paris CAC 40 | Dow Jones | NASDAQ
10708.33 |
30.68 (0.29%)
24526.45 |
35.08 (0.14%)
51817.01 |
231.82 (0.45%)
27203.94 |
81.85 (0.30%)
8154.91 |
15.97 (0.20%)
NaN |
0.00 (0.00%)
Prices delayed by at least 15 minutes
(Sharecast News) - Asian stocks moved moderately higher on Tuesday, helped by strong gains on Wall Street overnight, though upside was limited with oil prices stabilising and Japanese market closed for a public holiday.
The Hang Seng and Shanghai Composite rose 0.2% and 0.1% respectively, while the KOSPI gained 0.2% and the Singaporean STI jumped 0.9%.
Taiwen's Taiex finished just 0.2% higher, but settled at a record high on the back of strong gains for chip and electronics stocks. Among them were Mediatek, United Microelectronics and Alchip Technologies.
"After the return for risk appetite which saw the Nasdaq advance to a new record last night, there was a more measured feel to proceedings in Asia and Europe on Tuesday," says AJ Bell investment director Russ Mould.
Helping sentiment in the AI and chip sectors was Alibaba, which jumped around 5% in Hong Kong after rolling out the Zhenwu V900 chip, its most powerful chip to date. "We anticipate significant growth in annual AI chip shipment volumes," said boss Eddie Wu at the company's annual conference.
Other notable risers were South Korea's Samsung Electronics and SK Hynix, while optical transceivers, chips and network terminals group Ligent Technologies rose 5% in its Hong Kong IPO, which raised HK$5.7bn ($730m).
At the time of writing (1118 BST), oil prices had resumed their downward trend, falling for the fifth straight day. Brent crude was down 2.5% at $97.88 a barrel, falling below the $100 level for the first time in two weeks.
However, prices had inched higher earlier in the session, which may have limited upside for equities across Asia.
"After falling for four straight sessions and briefly dipping below $100 per barrel, Brent crude oil prices ticked higher as investors wait to see if Donald Trump meets with his Iranian counterpart Masoud Pezeshkian on the sidelines of the UN General Assembly," Mould said in an early morning email.
"For oil to resume its downwards trend, signs of tangible diplomatic progress will need to come through sooner rather than later."