HONG KONG, Nov 10 — Asian stocks rallied today to extend a Wall Street surge led by technology firms as investors took advantage of lower prices following last week’s rout, while another plunge in oil prices added to the upbeat mood.
AI-linked firms led gains across the region, in stark contrast to the battering in reaction to last Tuesday’s Democratic sweep of Congress that stoked regulatory concerns.
However, traders remain on edge about profitability in light of the vast sums pumped into the sector, while they were also keeping tabs on Nvidia after boss Jensen Huang’s admission of an affair amid speculation of a Chinese espionage plot.
Titans including Amazon, Microsoft and Apple were among the big gainers yesterday in New York as tech bounced back with help from bargain-hunting, with observers pointing out that confidence in the AI outlook remained solid.
