Asian Markets Rebound
Asian Markets Gain as Wall Street Rallies and Oil Prices Ease, Tech Sector Fuels Surges
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Key Points
1
Amazon's market capitalization surpassed $3 trillion for the first time, underscoring the continued strength of mega-cap tech as other big tech names like Nvidia, Meta, Alphabet and Microsoft also posted solid gains.
2
US manufacturing activity rose to its highest level in more than four years in July, supporting a constructive view of the health of the world’s largest economy and contributing to the upbeat risk sentiment in markets.
3
Brent crude traded around $84.29 per barrel (up 0.6%), after slipping to a three-week low amid ongoing tensions over Iran and peace-talk uncertainties.
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South Korea's Kosdaq surged about 3%, marking it as the region's strongest performer, with the Kospi up around 1.46% as technology-led momentum persisted.
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President Donald Trump said he had held off on a fresh attack on Iran as a goodwill gesture during peace talks, a development that was accompanied by Tehran denying that any negotiations are taking place.
Asian stocks climbed cautiously on Tuesday after a strong Wall Street session, with South Korea leading regional gains and tech shares driving momentum. Amazon crossed a $3 trillion market cap for the first time, and U.S. manufacturing hit a four-year high — two signals that kept investors in a buying mood, according to IBTimes SG.
Still, the mood was mixed. Japan's Nikkei slipped even as most other markets rose. Oil steadied near multi-week lows, and U.S.-Iran peace talks remained murky, keeping traders on edge, Newsy Today reported.
South Korea Surges as Tech Sentiment Takes Hold
South Korea's Kosdaq jumped about 3% — the biggest gain in the region. The broader Kospi rose around 1.46%. Tech and AI stocks led the charge, riding momentum from Wall Street's mega-cap rally, according to IBTimes SG.
Nvidia, Meta, Alphabet, and Microsoft all posted solid gains in the U.S. session. Amazon's market cap topping $3 trillion for the first time added fuel to the risk-on mood across Asia, Archynetys noted.
Amazon Hits $3 Trillion as U.S. Manufacturing Beats Expectations
Amazon became the latest U.S. company to hit a $3 trillion market cap, a milestone that underlined the strength of big tech. It joined Apple, Microsoft, and Nvidia in that elite club.
U.S. manufacturing activity rose to its highest level in more than four years in July. That data gave investors added confidence in the health of the world's largest economy, Nasdaq reported. The two pieces of good news together helped push risk appetite higher across global markets.
Trump's Iran Remarks Muddy the Oil Market Picture
Brent crude traded around $84.29 per barrel on Tuesday, up about 0.6% after touching a three-week low. The dip came after President Donald Trump said he held off on attacking Iran as a goodwill gesture during peace talks, Archynetys reported.
But Iran denied any talks are taking place. That mixed messaging left oil traders guessing. With no clear resolution in sight, crude prices stayed near their recent lows rather than spiking, according to Head Topics.
Fed Watch: Rate Hike Odds and a Gradually Cooling Inflation
Investors are pricing in about a 65% chance the Federal Reserve raises rates by 25 basis points — that's a quarter of a percent — at its next meeting. New York Fed President John Williams said inflation should ease gradually but warned that policy will tighten further if needed, Newsy Today reported.
The yen moved up and down against the dollar after Japan's recent currency interventions. Markets are now waiting on major earnings reports and fresh economic data to get a clearer read on where the global economy is headed, according to Nasdaq.
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