Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Asian stocks climbed on Tuesday, with technology shares extending gains alongside U.S. peers, fueled by ongoing optimism over artificial intelligence (AI). Japanese markets outperformed regional peers, hitting record highs after the election of a fiscally dovish prime ministerial candidate eased expectations for further interest rate hikes by the Bank of Japan (BOJ). However, overall trading volumes were subdued due to holidays in China, Hong Kong, and South Korea.
The upbeat sentiment across Asia followed Wall Street’s record-setting session on Monday, where chipmakers led a strong rally. Still, S&P 500 Futures edged down 0.1% in Asian trading, signaling a potential pause amid lingering concerns over a possible U.S. government shutdown. Global investor confidence was also tempered by political turmoil in France and caution ahead of speeches from Federal Reserve officials, including Chair Jerome Powell, later this week.
Japan’s Nikkei 225 surged up to 1% to a historic high of 48,544.0 points, while the TOPIX touched 3,248.39 points before easing slightly. Gains were driven by industrial and semiconductor stocks, with the market cheering the election of Sanae Takaichi as leader of Japan’s ruling Liberal Democratic Party. Takaichi, set to become Japan’s first female prime minister, is known for her expansionary fiscal stance and opposition to BOJ rate hikes. Her policies are expected to boost spending on manufacturing and defense, though uncertainty remains about how additional fiscal programs will be financed.
Asian tech stocks were another bright spot. Chipmakers surged after AMD (NASDAQ:AMD) soared nearly 24% on news it would supply AI chips to OpenAI, boosting expectations of sustained AI-related demand. Taiwan’s TSMC (TW:2330) gained 2.5%, Japan’s Advantest Corp. (TYO:6857) rose 2.2%, Tokyo Electron added 1%, and Renesas Electronics (TYO:6723) jumped 4.6%.
Elsewhere, Singapore’s STI rose 0.9%, while Australia’s ASX 200 slipped 0.3% as ASX Ltd. (ASX:ASX) fell nearly 2% following Cboe’s approval to operate as a securities listing market. India’s Nifty 50 futures signaled a positive open after surpassing 25,000 points on Monday.
