Menu

Search

  |   Economy

Menu

  |   Economy

Search

Asian Tech Stocks Rise Amid U.S. Trade Worries and AI Demand

Asian Tech Stocks Rise Amid U.S. Trade Worries and AI Demand. Source: Image by Gerd Altmann from Pixabay

Asian stock markets mostly advanced on Tuesday, led by gains in regional tech shares that mirrored strength in U.S. counterparts. Optimism was tempered, however, by lingering concerns over U.S.-China trade tensions and fragile economic indicators.

Japan’s Nikkei 225 added 0.3%, while Hong Kong’s Hang Seng Index surged 1.2%, rebounding from recent losses. Technology stocks outperformed, buoyed by easing U.S. Treasury yields and sustained investor confidence in artificial intelligence demand. Taiwan Semiconductor Manufacturing Co. (TSMC) rose 1% after its CEO acknowledged tariff pressures but reaffirmed robust AI-driven growth.

Electric vehicle shares also rallied. BYD Co. climbed nearly 2%, snapping a six-day losing streak after strong May sales, especially overseas. Li Auto jumped nearly 5%, leading Hang Seng gainers following a Goldman Sachs price target hike.

Chinese markets reopened after a holiday, but the Shanghai Composite and CSI 300 traded flat. Investor caution grew after U.S. President Donald Trump accused Beijing of breaching a trade agreement, claims China firmly denied. Trade talks appeared stalled, dampening hopes for a lasting resolution. Meanwhile, China’s Caixin manufacturing PMI unexpectedly contracted in May, signaling the negative impact of U.S. tariffs and soft overseas demand.

Elsewhere in Asia, Australia’s ASX 200 rose 0.3% as central bank minutes reaffirmed a dovish stance following a recent rate cut. Still, economic data remained weak, with a surprise contraction in company profits and a wider-than-expected current account deficit ahead of key GDP figures.

Singapore’s Straits Times Index edged up 0.1%, while futures suggested a cautious open for India’s Nifty 50 ahead of the Reserve Bank of India’s interest rate decision. Markets expect a 25 basis point cut to support growth amid global headwinds.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.