Pedestrians crossing street at night in Hong Kong, China
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Asia-Pacific markets traded higher Tuesday, fueled by a tech rally on Wall Street after Nvidia announced a partnership with OpenAI, driving investor optimism about the future of artificial intelligence.
Australia’s ASX/S&P 200 rose 0.17%. South Korea’s Kospi climbed 0.69%, while the small-cap Kosdaq added 0.28% at the open.
Hong Kong’s Hang Seng Index was set to open higher, with its futures contract last traded at 26,396, against the index’s previous close of 26,344.14. Hong Kong is bracing for a severe typhoon. The Hong Kong Observatory warned that conditions will begin to worsen later Tuesday, with Super Typhoon Ragasa expected to make its closest approach to the Pearl River Estuary Wednesday morning.
Japan markets are closed for the holiday.
India tech stocks will continue to be in focus after falling Monday. U.S. President Donald Trump announced late last Friday a $100,000 visa fee for new H-1B visas, which are reserved for high-skilled foreign workers. Of the nearly 400,00 H-1B visas issued in 2024, 71% were for Indian nationals, according to U.S. government data.
Singapore is expected to release its inflation data for August later in the day.
Overnight stateside, the three major averages ended the trading day higher. The S&P 500 reached new heights led by a move higher in Nvidia, as a partnership announcement with OpenAI fueled investor optimism about the future of artificial intelligence.
The broad market index ended the day up 0.44% at 6,693.75, while the Nasdaq Composite jumped 0.70% to finish at 22,788.98. The Dow Jones Industrial Average climbed 66.27 points, or 0.14%, to settle at 46,381.54. Along with the S&P 500, the Nasdaq and Dow had hit new all-time intraday highs during the session and closed at record highs.
— CNBC’s Sarah Min and Sean Conlon contributed to this report.
