Asian Markets Rise on Tech Gains, Oil Strength

Asian markets advance as tech stocks rally and rising oil prices boost investor sentiment despite holiday-thinned regional trading activity.

Asian equities climbed today on Thursday as investors drew confidence from a rebound in global technology shares and steady gains in crude oil. Strong overnight cues from Wall Street helped lift risk appetite, while energy stocks rallied across the region. Trading volumes remained subdued because markets in China, Hong Kong and Taiwan were closed for Lunar New Year holidays.

Asian Markets Rise on Tech Gains, Oil Strength

The Nikkei 225 advanced 0.86%, supported by broad strength in financials and technology. Chip-related firms including Advantest, Screen Holdings and Tokyo Electron posted solid gains. Major banks such as Mitsubishi UFJ Financial and Sumitomo Mitsui Financial also traded higher.

In Australia, the S&P/ASX 200 extended its winning streak to a fifth session, rising 0.93% to fresh record levels above 9,100. Mining and energy stocks led the advance. Heavyweights Rio Tinto and BHP pushed higher alongside energy producers Santos and Woodside Energy. Major banks—Westpac, ANZ and National Australia Bank—also supported the rally.

Tech performance was mixed. Payment company Block surged, while Zip plunged on profit-taking.

Elsewhere in the region, markets in South Korea and Southeast Asia advanced modestly. Broader sentiment improved as U.S. mega-cap tech stocks rallied and crude oil prices firmed, boosting energy shares.

Global Market Snapshot

• Equities: Nikkei +0.86%, Shanghai Composite –1.26%, Hang Seng +0.52%, ASX +0.93%
• Commodities: Gold $4,987.11 (–0.47%), Silver $77.10 (–0.65%), Brent $70.56 (+0.30%), WTI $65.30 (+0.38%)
• Bond Yields: U.S. 10-year 4.093%, U.K. 10-year 4.375%, Germany 10-year 2.7428%

Economic Data

The latest Canadian data showed:

• Core Durable Goods Orders m/m: from 0.9% to 0.3% (expected)
• Durable Goods Orders m/m: from –1.4% to –1.8% (expected)

Looking Ahead

Traders are watching the upcoming U.S. labor release, with USD Unemployment Claims due at 01:30 PM GMT, a key indicator for assessing the strength of the U.S. economy and potential policy implications.

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