Hong Kong stocks climb 1% on tech optimism and oil retreat; Nasdaq hits record high, Nvidia surges 2.1% to $5.76T market cap
Hong Kong's benchmark Hang Seng Index climbed 239 points, or 1%, to open at 24,279 on Tuesday, driven by tech optimism and a retreat in oil prices. The Hang Seng Tech Index rose 1.02% to 4,226. This came as the Nasdaq Composite notched a record close overnight, buoyed by softer-than-expected jobs data that dampened expectations for a Federal Reserve rate hike this month. AI heavyweight Nvidia climbed 2.1%, reaching a record-high close and boosting its market value to US$5.76 trillion. Brent crude was little changed at US$100 a barrel after losing 1.9% overnight, as Middle East exports increased and G7 nations pledged to boost supplies. Meanwhile, US 10- and 30-year Treasury yields hovered near multi-decade highs, with the 10-year yield at 5.3089% and 30-year at 5.6622% in Asia.
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