Asian markets settled mostly higher on Monday as AI stocks rebounded from last week’s global sell-off which was triggered by regulatory fears over data centers, energy use, and rising development costs. Sentiments improved further after US President Donald Trump stated that renewed US military strikes on Iran are highly unlikely as long as ongoing negotiations make progress toward an agreement on Iran's nuclear program and the reopening of the Strait of Hormuz. Meanwhile, investors braced for key US inflation readings and earnings from major AI firms, including CoreWeave, Cisco and Applied Materials, due later in the week.
Chinese markets gained after the release of October inflation data and a renewed pledge from Beijing to stabilize capital markets. Japanese market rallied, bouncing back sharply after a heavy technology sell-off pushed benchmark indices into a technical bear market late last week. However, South Korea’s Kospi declined amid market jitters surrounding Nvidia Corp after the company announced an internal investigation into allegations that CEO Jensen Huang was targeted by a suspected Chinese spy. The stock markets of Singapore and Malaysia were closed today in observance of the Deepavali (Diwali) public holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,660.79 | 11.62 | 0.32 |
Hang Seng | 24,448.95 | -32.91 | -0.13 |
Jakarta Composite | 5,073.77 | 23.34 | 0.46 |
KLSE Composite | -- | -- | -- |
Nikkei 225 | 58,775.50 | 1,340.73 | 2.33 |
Straits Times | -- | -- | -- |
KOSPI Composite | 5,018.85 | -40.84 | -0.81 |
Taiwan Weighted | 41,661.70 | 1,960.06 | 4.94 |