Workers are processing chips at a workshop of an optoelectronic technology company in Huai’an, China, on May 11, 2024.
Costfoto | Nurphoto | Getty Images
Japan’s Nikkei 225 was set to rebound after leading losses in Asia on Monday, with the futures contract in Chicago at 39,870 and its counterpart in Osaka trading last at 39,670 against the index’s previous close of 39,307.05.
Australia’s S&P/ASX 200 started the day up 0.31%, on pace for a fourth day of gains.
In contrast, futures for Hong Kong’s Hang Seng index last traded at 19,664, pointing to a weaker open compared to the HSI’s close of 19,688.29.
Hong Kong-listed tech stocks will be in the spotlight after the U.S. Defense Department added Chinese tech giant Tencent Holdings and battery maker CATL to a list of firms it calls “Chinese military companies.”
Tencent American depositary receipts fell almost 8% overnight.
In the U.S., the S&P 500 advanced 0.55% and climbed alongside the Nasdaq, which gained 1.24% on the back of the tech rally.
However, the Dow Jones Industrial Average lagged, reversing earlier gains and falling 0.06%.
— CNBC’s Pia Singh and Tanaya Macheel contributed to this report.
