On Tuesday, Asian markets mostly went up, following a trend set by Wall Street. In Tokyo, Japan’s Nikkei 225 index rose by 1.6%, led by companies like Tokyo Electron and Advantest. In South Korea, the Kospi index surged by 2.1%, boosted by big tech companies such as Samsung Electronics and SK Hynix.
However, Hong Kong’s Hang Seng index dropped by 0.5%, while the Shanghai Composite index in China recovered from earlier losses and went up by 0.3%. In Australia, the S&P/ASX 200 index increased by 1.3% after the country’s central bank decided to keep interest rates steady.
Meanwhile, in India, the Sensex index fell by 0.7% as the country began the third phase of its national elections.
Tech stocks were the main focus in the United States on Monday, with companies like Nvidia and Super Micro Computer leading the market higher. Nvidia’s stock has risen by 86.1% so far this year, while Super Micro’s has gone up by 192.1%.
Berkshire Hathaway, Warren Buffett’s company, reported positive quarterly results over the weekend, which helped its stock increase by 1%. However, Spirit Airlines saw a decline of 9.7% after reporting a slightly worse loss than expected due to increased competition in its markets.
Apple’s stock slipped by 0.9% after it was revealed that Berkshire Hathaway had reduced its stake in the tech giant.
The U.S. stock market has been volatile recently, with concerns about inflation and interest rates causing fluctuations. However, there was optimism at the end of last week following a jobs report that was not as bad as expected.
Traders are now betting that the Federal Reserve will cut interest rates at least once before the end of the year, which could help ease pressure on the economy.
Looking ahead, there are still some big companies set to report their earnings, including The Walt Disney Co. and Uber Technologies.
In other news, the price of oil rose slightly on Tuesday, with benchmark U.S. crude oil trading at $78.72 per barrel and Brent crude at $83.57 per barrel. The dollar also strengthened against the Japanese yen but remained stable against the euro.
Overall, global markets are experiencing some ups and downs, but there is cautious optimism about the future.
