HK, regional markets get a bump from Wall St gains

Asian markets experienced a boost on Tuesday as oil prices dropped following US President Donald Trump's announcement of no new military strikes against Iran. In Hong Kong, the Hang Seng Index opened 172 points higher, while the China Enterprises Index and tech index both rose by 0.47 percent and 0.78 percent respectively. Two chip-sector firms made their debut in Hong Kong.

The Shanghai Composite Index opened 21 points higher in mainland China, while the Shenzhen Component Index and ChiNext Index showed significant gains. Tokyo's Nikkei Index opened higher, and Seoul's Kospi surged 4.55 percent. Brent crude futures hovered near their lowest levels since early September, with US$91.56 per barrel. The US-Israeli war with Iran has raised inflation concerns, prompting central banks to hike interest rates.

Market strategist Nick Twidale expressed hope for a potential end to the conflict, but cautioned about the risks of markets moving too quickly. The slump in oil prices eased inflation worries, contributing to the stock market rally after Democrats' victories in the US midterm elections. Earnings reports from tech companies, particularly those related to AI, will provide investors with further insights.

Nvidia, the second-most valuable company globally, faced a 4.2 percent drop after its board investigated the possibility of a foreign intelligence operation targeting its CEO. Despite these challenges, market participants remain confident in Nvidia's position in the GPU AI chip market.