Asian shares surge as Nvidia sparks Wall Street rally

In recent trading, major Asian markets showed positive movements, fueled by increasing optimism from U.S. technology stocks, particularly through the performance of Nvidia. Japan's benchmark Nikkei 225 index surged 2.4% in morning trading, while Australia's S&P/ASX 200 gained 0.3%. Korea’s Kospi also recorded a rise of nearly 1.0%. In contrast, Hong Kong's Hang Seng index experienced a decline of 0.3% and the Shanghai Composite remained relatively stable, marginally decreasing by less than 0.1%. The U.S. stock market saw notable gains, with the S&P 500 rising by 0.6%, following five consecutive trading sessions of declines, marking its longest losing streak since April. This rebound was largely attributed to a surge in technology stocks, with Nvidia reaching a new record as excitement builds around artificial intelligence technology. U.S. Steel stock rose sharply by 8.1% due to ongoing legal challenges against presidential decisions affecting their potential mergers. In the broader economic context, concerns about inflationary pressures have led to interest rate adjustments by the Federal Reserve. Following the significant drop in inflation near the 2% target, the Fed began implementing rate cuts from September, indicating a responsive approach to economic conditions. Despite fears of a potential bubble in tech stocks, the industry continues to emphasize its growth potential. Upcoming economic reports, including a jobs report and consumer sentiment update, are anticipated to further influence market conditions. Moreover, the stock and options markets for the New York Stock Exchange and Nasdaq are expected to close in observance of a National Day of Mourning for former President Jimmy Carter, which adds a layer of unprecedented national sentiment to current market activities.