Asian share markets extended recent gains Tuesday, driven by strong demand for technology stocks and record-breaking momentum in gold. Optimism around artificial intelligence fueled Wall Street’s latest rally, with Nvidia announcing plans to invest up to $100 billion in OpenAI, with first data center deliveries set for 2026.
Tech giants including Oracle, Apple, Nvidia, and Tesla continue to dominate, drawing heavy inflows from momentum funds and options traders. Analysts note the trend is becoming self-fulfilling, with investors hedging equity exposure through gold. The precious metal surged to a new record of $3,755.47 per ounce, nearly 9% higher in September.
In Asia, chip stocks led gains. South Korea rose 0.2%, adding to a 9% monthly surge, while Japan’s Nikkei—closed for a holiday—remains up 6.5% in September. Taiwan advanced nearly 7%, and MSCI’s Asia-Pacific index outside Japan gained 0.3%. Chinese blue chips added 0.1%.
European markets showed modest improvement, with EUROSTOXX 50, FTSE, and DAX futures all edging higher. In the U.S., S&P 500 and Nasdaq futures steadied after hitting record highs.
Investor sentiment remains supported by expectations of further U.S. Federal Reserve rate cuts, with markets pricing in a 90% chance of easing in October and 75% in December. However, mixed Fed messaging persists, with some officials warning about inflation while new Governor Stephen Miran urged sharper cuts. Fed Chair Jerome Powell is set to comment later today.
Currency markets saw the dollar ease against the euro and yen, while Sweden’s crown held steady ahead of a central bank decision. Oil prices dipped on oversupply concerns, with Brent at $66.46 and U.S. crude at $62.21.
With AI enthusiasm surging and gold setting records, global markets remain firmly momentum-driven.


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