Asian stocks gained as AI optimism boosted technology shares across the region, while other investors remained cautious due to tensions between the US and European Union over tariffs and the war in Ukraine. Tencent Holdings Ltd. jumped as much as 7.8% in Hong Kong, extending a winning run that’s gotten a boost from DeepSeek’s debut. A gauge of Asian shares rose to its highest level since November, helped by technology companies from Japan to Taiwan. Treasury futures edged lower with cash trading closed globally due to Presidents’ Day in the US. The dollar was little changed. China’s tech-powered rally is gaining momentum as DeepSeek’s breakthrough in artificial intelligence drove a $1.3 trillion rally in the country’s shares. A meeting between President Xi Jinping and business figures including e-commerce icon Jack Ma may fuel optimism further. That contrasts with increasing discord between the US and Europe, which prompted a drop in German and French bond futures. Goldman Sachs Group Inc. strategists raised their MSCI China index target on optimism over the country’s technological advancements. Meanwhile, investor Michael Burry had rolled back on some of his investments in Chinese tech stocks just before DeepSeek’s breakthrough. Markets remained volatile during Asian trade, with the MSCI Asia Pacific gauge trimming some gains from its earlier highs.
US President Donald Trump’s tariff plans sparked threats of retaliation while Vice President JD Vance attacked longstanding European allies at a security conference at the weekend. Plans to negotiate an end to the war in Ukraine have left the bloc on the sidelines. Investors may demand higher yields on government debt across the European region on concern officials will seek to beef up military investment. Upgrading defense and protecting Ukraine may cost Europe’s major powers an additional $3.1 trillion over 10 years, according to Bloomberg Economics estimates. The euro was rangebound on Monday. Elsewhere in Asia, Westpac Banking Corp.’s shares slid as much as 6.2% after profit and margins slipped. Japan’s economy expanded for a third straight quarter as companies boosted investment and net exports improved. In commodities, oil steadied after a string of declines as the prospect of increased flows from Iraq and Russia weighed on the outlook.
Nikkei +0.06% Hang Seng -0.04% CSI +0.07% Shanghai +0.15% Shenzen +0.59%
Eur$ 1.0491 CNH 7.2481 CNY 7.2496 JPY 151.52 GBP 1.2588 CHF 0.9004 RUB 91.44052 TRY 36.2231 WTI$ 70.77 +0.04% Gold 2,896 +0.47% BTC 96,300 -0.90% ETH 2,670 -0.667%
S&P +0.20% Nasdaq +0.32% EuroStoxx -0.04% FTSE +0.05% Dax +0.16% SMI +0.45%
Macro :
- Panetta Says M&A Would Give Lenders Scale: Italy Bank Update
- Trump’s Tariffs Are a Mystery, So Investors Keep Buying Stocks
- Japan Seeks Exemption From Trump’s Reciprocal Tariffs, NHK Says
- Xi Hosts Summit With Jack Ma, Chinese Private Sector Leaders
- Jump in Dispersion Trades Belies Crowding Worries: Options Watch
- JPMorgan’s Matejka Turns Neutral on Growth Stocks Versus Value
Keep an eye on :
Keep an eye on :
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