Stocks Rise as Tech Advancements Spark Confidence – Asia Market Wrap

Global equities advanced on Thursday, as strong technology earnings diverted attention away from the looming possibility of a US-China trade war.

Nasdaq 100 futures climbed 0.5% as TSMC upped its revenue growth objective and capital spending plan. AI-related US heavyweights such as Nvidia, Micron Technology, and Broadcom were among the biggest premarket gainers. Contracts for the S&P 500 increased 0.4%.

Nestlé SA jumped more than 8% after announcing intentions to slash 16,000 jobs and claiming a resurgence in sales, while Europe’s Stoxx 600 also increased. The MSCI index for Asian stocks increased by 0.9%.

Meanwhile, gold climbed to as high as $4,242 per ounce, extending its year-to-date gains to more than 60%, as trade tensions and anticipation of future Fed interest-rate reduction drew investors. The Dollar fell for the third consecutive day, and Treasuries were barely changed. French bonds underperformed European counterparts as PM Lecomu survived two no-confidence votes.

After several months of relative peace, tensions between Washington and Beijing have flared up anew, with equities experiencing rapid swings as dip buyers enter after selloffs. The most recent event saw Treasury Secretary Bessent raise the prospect of prolonging the hold on import charges if China halts its planned limits on rare earths.