Asian stocks rise after technology shares advance on Wall Street

Asian stocks rose on Tuesday following a rally on Wall Street, as many financial markets recovered most of their significant losses from the previous week. U.S. futures climbed, while oil prices experienced a decline. Japan's Nikkei 225 index increased by 2.6% to 60,279.37. Shares of OpenAI investor SoftBank Group surged 15%, following the company's earnings release later that day.

The stock had plummeted to its lowest level in a year earlier in the week. Tokyo Electron, a computer chip equipment maker, rose 5.6%, and testing equipment firm Advantest gained 3.4%. South Korea's Kospi index climbed 4% to 5,219.37, while Samsung Electronics, a prominent chipmaker, saw a 4.6% increase. SK Hynix, another semiconductor company, climbed 5.6% as well.

In Hong Kong, the Hang Seng index gained 0.4% to 24,535.74, and the Shanghai Composite index edged 0.4% higher to 3,673.54.

China's exports in October soared by 35.2% compared to the same month in the previous year, while imports grew by 41.6%, according to customs data released on Tuesday. This has put the nation on track for another record year, with its trade surplus surpassing $1 trillion since the trade surplus for 2026 was already over $1 trillion.

Australia's S&P/ASX 200 rose 1.1% to 9,131.70. On Monday, the S&P 500 index jumped 2.3% for a second consecutive gain after a sharp drop due to concerns that Democratic victories in the U.S. midterm elections might slow down AI data center construction. The index was just 3.4% below its all-time high last month, and the Dow Jones Industrial Average gained 2.2%, while the Nasdaq composite rose 2.7%.

The pullback in global oil prices also played a role in driving these gains. Brent crude prices fell after President Donald Trump stated during an interview with CNN that a resumption of strikes on Iran was "highly unlikely" if progress is made in negotiations to end the war. However, U.S. Secretary of State Marco Rubio noted on Sunday that Iranian demands were sometimes "outrageous and ridiculous."

Several strong profit reports from major U.S. companies also contributed to the positive sentiment in the market, providing a boost to stocks.