Asian stocks rose broadly on Tuesday, tracking a Wall Street rally that saw the Nasdaq notch a record close, while investors also turned their attention to an upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
The Nasdaq gained 2.3% to a record-high close, with the S&P 500 advancing 1.5%. Meta Platforms surged 11% and Advanced Micro Devices rose nearly 10%, fueling renewed appetite for artificial intelligence-related stocks across the region.
In South Korea, the KOSPI climbed 1.7%, with Samsung Electronics up 2.1% and SK Hynix gaining 2.6%. Taiwan's Weighted Index rose 1.5%; Taiwan Semiconductor Manufacturing Co added 0.6% while MediaTek surged more than 8%.
Japanese markets were closed for a public holiday, though Nikkei 225 futures edged up 0.3%. In China and Hong Kong, the Shanghai Composite rose 0.4% and the Shanghai Shenzhen CSI 300 index gained 0.7%. Hong Kong's Hang Seng advanced 0.6% and the Hang Seng TECH index rose 1.4%, with Chinese tech names including Alibaba, Baidu and Tencent trading higher.
Australia's S&P/ASX 200 was up 0.2%, though energy-stock losses capped broader gains. Singapore's Straits Times Index rose 0.4%, while futures tied to India's Nifty 50 edged down 0.2%.
Oil prices steadied after Monday's selloff. Brent crude hovered around $100.22 a barrel, having fallen more than 3% the prior session on higher Saudi exports and expectations of U.S.-Iran diplomacy. Iranian President Masoud Pezeshkian is expected in New York this week for the U.N. General Assembly, and Trump has signaled openness to meeting him.
On the geopolitical front, officials from both the U.S. and China described recent preparatory talks positively, raising hopes for an extension of the existing trade truce. Trade, artificial intelligence, supply chains and geopolitical issues were expected to feature on the agenda at Thursday's summit in Washington.
