Asian markets traded mostly higher in early deals on Tuesday, kindled by heavy investments and sustained global demand for AI chips and technology related stocks. Crude oil rates stabilized, relieving immediate energy supply anxieties through the Strait of Hormuz, after the US and Iran agreed to halt maritime strikes and send delegations to peace talks in Qatar. Optimistic economic data drove market confidence, fuelled by a 5.3% annual surge in Japanese retail sales and expanding industrial profits and factory exports across China. South Korea’s KOSPI soared the most among Asian indices, with sweeping corporate governance ‘value-up’ reforms in the country and surging exports.
Nikkei soared by 1,108.89 points or 1.60% to 70,577.00, Taiwan weighted surged by 1,582.18 points or 3.52% to 46,582.08, Shanghai Composite jumped by 8.23 points or 0.20% to 4,082.13, KOSPI Index added by 253.45 points or 3.02% to 8,648.10, and FTSE Bursa Malaysia KLCI index lifted by 1.54 points or 0.09% to 1,667.45.
On the flip side, Hang Seng plunged by 293.68 points or 1.29% to 22,733.00, Straits Times narrowed by 31.59 points 0.61% to 5,177.16, and Jakarta Composite tumbled by 148.85 points or 2.56% to 5,671.94.
