Asian Stocks Rise Led By Tech – Asia Market Wrap

Asia’s benchmark stock index rose, led by the tech sector, as investors awaited earnings from some of the largest Chinese technology firms this week.

An index of regional tech shares advanced for a fourth day after US chipmakers rallied Tuesday when Nvidia Corp. and Advanced Micro Devices Inc. said they would supply semiconductors to a Saudi Arabian artificial-intelligence firm for a $10 billion data-center project. US equity futures were little changed.

China’s most valuable company, Tencent Holdings Ltd. will announce earnings Wednesday, and Alibaba Group Holding Ltd. will report the following day. The results may reveal how the sector’s two largest companies are coping with the uncertain geopolitical outlook, and give a guide as to whether Chinese tech stocks may resume their rally.

Chinese shipping and port stocks advanced on optimism the de- escalation of trade war between US and China will trigger a rebound in shipping demand and freight rates. Ningbo Marine, Nanjing Port and Ningbo Ocean Shipping all rose by the 10% daily limit.