Asian Equities Find Support From China's Tech Momentum Wave

Monday painted a picture of resilient Asian markets as investors rode the wave of strength emanating from Chinese artificial intelligence stocks. The positive vibes rippled across the region, though geopolitical tensions and mounting friction between the White House and Federal Reserve kept a lid on broader gains.

China Leads the Charge

Shanghai’s headline index climbed 1.1 percent to settle at 4,165.29, bouncing from the previous close of 4,120.43 and tracking within a 4,119.88 to 4,168.36 range throughout the session. Meanwhile, the Shenzhen Component delivered an even more impressive showing, gaining 1.75 percent to land at 14,366.91, adding 247 points from its prior 14,120.15 level.

Hong Kong and Korea Advance

Hong Kong’s Hang Seng pushed forward with a 1.44 percent uptick, climbing 377 points to wrap at 26,608.48, with intraday swings between 26,187.76 and 26,608.48. South Korea’s Kospi Index wasn’t far behind, tacking on 0.84 percent or 38 points to reach 4,624.79, trading in a 4,567.55 to 4,652.54 band.

Down Under Stays Steady

Australia’s S&P/ASX200 finished the session up 0.48 percent or 42 points at 8,759.40, supported by some standout individual performers. Light & Wonder was the day’s star turn, vaulting nearly 18 percent after announcing a litigation settlement with Aristocrat Leisure. Catapult Sports and Ramelius Resources each rallied more than 6 percent, while Newmont Corp and Pantoro Gold both climbed over 5 percent. On the flip side, Mesoblast tumbled 7.2 percent, Super Retail Group retreated 5.3 percent, and DroneShield lost 4.2 percent. Insurance Australia Group slipped 3.6 percent, with BHP Group down 2.5 percent.

New Zealand Consolidates

The NZX 50 of the New Zealand Stock Exchange edged marginally lower, shedding 13 points or 0.09 percent to finish at 13,683.29. Pacific Edge topped the gainers with a 3.4 percent surge, trailed by Sanford’s 2.5 percent pop. Serko, KMD Brands, and Heartland Group each rallied more than 1 percent. EROAD led the decliners, sliding 2.4 percent, while Goodman Property Trust, Meridian Energy, Sky Network Television, and Vista all retreated more than 1 percent.

Wall Street’s Friday Momentum

Earlier in the week, Wall Street wrapped Friday on an upbeat tone as traders digested monthly labor market figures. The Dow Jones Industrial Average increased 0.48 percent to 49,504.07, while the tech-focused Nasdaq Composite climbed 0.81 percent to 23,671.35. Meanwhile, equity markets in Japan remained closed for a holiday.