Technological euphoria drives Asian stocks upwards

The Asian stock markets continued to gain momentum on Tuesday, benefiting from the euphoria surrounding artificial intelligence (AI), which directed capital into the technology sector. Investors also bet on further interest rate cuts in the U.S., causing the gold price to rise further. In the U.S., Wall Street recorded new highs after Nvidia announced its intention to invest up to $100 billion in OpenAI. Initial deliveries for the associated data center are planned for the second half of 2026. Researcher Chris Weston from Pepperstone highlighted that U.S. technology and AI were currently in excellent form. Investors would need an unexpected shock to halt the upward trend of companies like Oracle, Apple, Nvidia, and Tesla. The growing interest in tech stocks positively impacted the chip industry in many Asian markets. South Korean stocks rose by 0.2%, after having increased by almost 9% this month. Japan's Nikkei celebrated a gain of 6.5%, while Taiwanese stocks rose by nearly 7%. In Europe, markets lagged behind this tech-driven development. EUROSTOXX 50 futures rose by 0.1%, as did the FTSE futures, while DAX futures increased by 0.2%. Globally, stocks were buoyed by the expectation of further rate cuts by the Federal Reserve. This positive market momentum was maintained despite mixed signals from the Fed. While some central bank officials advocated caution, the new Governor Stephen Miran argued for significantly lower rates. Fed Chairman Jerome Powell is set to comment later on Tuesday. Meanwhile, commodity markets are pulling back slightly. The oil price fell amid an oversupply, and the dollar lost some ground after a three-day winning streak.