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Asia markets set to open mixed, following Wall Street gains on AMD rally
Aerial view by drone of Tokyo Cityscape with Tokyo Sky Tree visible in Tokyo city, Japan on sunrise.
pongnathee kluaythong | Moment | Getty Images
Asia-Pacific markets were set to open mostly higher Tuesday, tracking Wall Street gains on a tech rally fueled by the massive deal between OpenAI and AMD, in one of the most direct challenges to chipmaker giant Nvidia.
Investors in Asia will be keeping an eye on chip stocks in the region.
Japan’s benchmark Nikkei 225 index was set for a higher open, with its futures contract in Chicago trading at 48,705, and its counterpart in Osaka at 48,590, against the index’s Monday close of 47,944.76.
Australia’s ASX/S&P 200 fell 0.18% in early trade, extending losses from the previous session.
Chinese, Hong Kong and South Korean markets are closed for the holidays.
U.S. equity futures were little changed in early Asian hours on Tuesday after the major key benchmarks hit fresh records Monday stateside.
Overnight, the S&P 500 gained 0.36% to end the day at a fresh record for the 32nd time this year. Meanwhile, the tech-heavy Nasdaq advanced 0.71% to finish at 22,941.67, after notching its 31st all-time high of 2025.
Shares of AMD skyrocketed almost 24% to boost both indexes after the company announced a deal with OpenAI, which could see the latter take a 10% stake in the chipmaker.
The Dow Jones Industrial Average, however, fell 63.31 points, or 0.14%, to close at 46,694.97, weighed down by a decline in shares of Sherwin-Williams and Home Depot.
— CNBC’s Pia Singh, Sean Conlon and Fred Imbert contributed to this report.
