Asian benchmarks mostly rise after Wall Street’s rally
Asian stock markets mostly gained early Tuesday, as investor sentiment improved following a positive overnight rally on Wall Street. Australia's S&P/ASX 200 climbed 2% to 8,748.20, while South Korea's Kospi jumped 1.6% to 7,120.25. Hong Kong's Hang Seng edged up 0.6% to 25,185.26, and the Shanghai Composite rose 0.4% to 3,964.45.
The Tokyo markets were closed for an extended holiday and will reopen on Thursday. Wall Street edged closer to its record high on Monday, with the S&P 500 rising 1.5% and the Nasdaq composite hitting a new all-time high. This rally was driven by chip stocks and other companies in the artificial intelligence sector. Lower oil prices provided additional support to stocks, although prices remain elevated compared to their summer lows.
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