Japan’s Nikkei settled higher on Tuesday by rising 1.16% to 33,763.18, the highest level since March 1990, following positive trends from tech stocks. Tokyo’s inflation rate declined from 2.6% in November to 2.4% in December, and core inflation, as expected by analysts, remained unchanged at 2.1%.
Meanwhile, Australia’s retail sales for November 2023 surged 2% MoM, which was more than economists expectations of 1.2% in a Reuters poll. The S&P/ASX 200 index gained 0.93% to close at 7,520.5, breaking a four-day losing streak.
South Korea’s Kospi slid by 0.26% to 2,561.24 as its electronics giant, Samsung Electronics, downgraded its earnings forecast for 4Q/23 by 35% YoY. The firm also expected the 4Q/23 revenue to drop by 4.9% YoY to 67 trillion won.
As for the US, the Dow Jones Industrial Average (DJIA) rose by 0.58% to 37,683.01. S&P 500 climbed by 1.41% to 4,763.54, and NASDAQ surged by 2.2% to 14,843.77.
Nvidia’s stock surged by 6.43% to $522.53, following the announcement of the GeForce RTX 40 SUPER Series of graphics processors, which mainly focused on gaming performance and artificial intelligence (AI) usage. This makes Nvidia the most traded company on Wall Street by having traders exchanging over $32 billion worth of its shares.
Oil prices settled lower as Saudi Arabia cut oil prices, prompting concerns over global oil demand. Brent decreased by 3.35% to $76.12 per barrel, and the West Texas Intermediate (WTI) edged down by 4.12% to $70.77 a barrel.
