Cityscape image of Sydney, Australia with Harbor Bridge and Sydney skyline during sunset. Vacation and travel in Australia.
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Japan and Australian stocks rose Wednesday as Wall Street rebounded overnight, while several Asia-Pacific markets were closed for the Lunar New Year holiday.
Japan benchmark Nikkei 225 opened 0.85% higher, while the Topix advanced 0.5%, reversing from the previous session’s losses.
Australia’s S&P/ASX 200 rose 0.81%. The country is slated to release its inflation data later in the day. Economists polled by Reuters expect the a 2.5% rise in inflation in the 12 months to the December quarter, compared with 2.8% in the previous year.
Overnight in the U.S., key indexes recovered some ground from the sell-off sparked by the challenge posed by Chinese artificial intelligence startup DeepSeek to the U.S. AI ecosyetem.
The S&P 500 advanced 0.92% to 6,067.70, led by gains in technology shares. The Technology Select Sector SPDR Fund (XLK) rose more than 2%, following a 4.9% loss on Monday. The Nasdaq Composite surged 2.03% to 19,733.59, following a 3.1% decline a day ago.
The Dow Jones Industrial Average added 136.77 points, or 0.31%, to 44,850.35.
All eyes were on Nvidia which picked up momentum to close around nearly 9% higher. The chipmaker lost 17%, or almost $600 billion in market value, in the previous session to clock the biggest ever one-day drop in value for a U.S. company.
Other tech giants like Broadcom and Oracle ended Tuesday’s trading day up 2.6% and 3.6%, respectively, following steep losses Monday.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
