Tech Stocks Are Having a Moment—Here's Why Asian Markets Are Vibing

Okay, so Nvidia just dropped absolutely stellar Q3 earnings and made some bold calls about AI sticking around for the long haul. Spoiler alert: the market loved it, and Asia basically said “let’s ride this wave.”

The Scorecard:

• Japan’s Nikkei jumped 2.65% to 49,823.94—finally broke a four-game losing streak. Tech stocks led the charge, with SoftBank, Tokyo Electron, and Fujikura all up 2-6%. Plus, a weaker yen (10-month low) helped things along.
• South Korea’s Kospi surged 1.92% to 4,004.85. Samsung Electronics was the absolute MVP, climbing 4.3%, while SK Hynix added 1.6%. Classic semiconductor hype.
• Australia’s ASX 200 bounced back from five-month lows, up 1.24% to 8,552.70. Banks and miners caught the bid.
• Hong Kong’s Hang Seng stayed chill at 25,835.57, up marginally.
• China’s Shanghai Composite? Down 0.40% to 3,931.05—People’s Bank of China kept rates frozen for the sixth straight month. Not exactly party vibes.

What’s Moving the Dial: The dollar got stronger on expectations the Fed might pump the brakes on rate cuts. Gold cooled off after a two-day rally. Oil inched up as traders digested U.S. sanctions on Russian oil firms (Rosneft and Lukoil) kicking in Friday.

Stateside, the Nasdaq popped 0.6%, the S&P 500 added 0.4%, and the Dow barely moved (up 0.1%)—all snapping a four-day skid. Tech led the lift, though Target’s weak comps and the Fed’s mixed signals on rates kept a lid on things.

Bottom Line: AI euphoria is real, but markets are still wrestling with the rate story. Watch this space.