Asia stocks jump as Anthropic IPO filing revives AI trade

Asian stock markets surged on Tuesday following the technology-focused IPO filing of AI startup Anthropic, raising investor confidence ahead of upcoming corporate earnings reports and central bank meetings. Wall Street's positive performance on Monday, with the S&P 500 and Nasdaq Composite posting gains, contributed to the rally.

U.S. stock index futures also showed a slight uptick. South Korea's KOSPI experienced a significant rise above 4%, driven by Samsung Electronics and SK Hynix. Japan's Nikkei 225 and TOPIX index both gained 2% and 0.6%, respectively. Anthropic's IPO filing revealed strong revenue growth and steep losses, underscoring the profitability challenges of AI companies.

The rally extended to chipmakers, with the Philadelphia Semiconductor Index jumping 3%. In contrast, Chinese and Hong Kong markets were more subdued. Investors are now focused on major tech companies' earnings and infrastructure spending plans, as well as central bank interest rate decisions. While crude oil prices dropped due to improved Middle East relations, persistently high energy costs could complicate central banks' monetary policy.