Asian markets open higher tracking Wall Street AI rally

September 22, 2026 (MLN): Asian markets opened higher on Tuesday, tracking overnight gains on Wall Street as a rally in artificial intelligence-related stocks lifted major U.S. indices.

South Korea’s Kospi gained 2.20% at the open, while the small-cap Kosdaq advanced 1.12%. Australia’s S&P/ASX 200 rose 0.30%, while Hong Kong’s Hang Seng Index climbed 0.21%. Mainland China’s CSI 300 added 0.83%. Japan’s markets remained closed for a public holiday.

The positive regional sentiment followed a strong session on Wall Street, where the S&P 500 jumped 1.5% to record its best daily performance since August 4.

The Nasdaq Composite surged 2.3%, marking its first record close since June, while the Dow Jones Industrial Average gained 366 points, or 0.7%, according to CNBC.

Technology stocks led the U.S. rally, with Meta Platforms jumping more than 11%. Chipmakers Intel and Advanced Micro Devices surged 12% and around 10%, respectively, with AMD reaching a $1 trillion market capitalization. Nvidia rose 2%, while Corning gained nearly 6%.

Lower oil prices also supported investor sentiment. West Texas Intermediate crude futures fell 4.5% to $95.78 per barrel, while Brent crude settled more than 3% lower at $100.34 per barrel.

Treasury yields eased as well, with the 10-year U.S. Treasury yield declining more than 4 basis points to 4.951%. Yields had been trending higher amid concerns over rising government debt, elevated energy prices and persistent inflation, even before the Federal Reserve raised its benchmark interest rate by 25 basis points last week.

In regional markets, Hong Kong’s Hang Seng futures were trading at 25,118, compared with Monday’s close of 25,042.71, while S&P/ASX 200 futures stood at 8,809 against the previous close of 8,731.90.

Investors are also monitoring developments ahead of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Washington later this week.

Discussions are expected to cover artificial intelligence, tariffs, rare earth minerals and the Iran conflict, with both sides seeking to strengthen their fragile trade truce.

Oil markets remain in focus after crude prices declined following reports that Trump had decided against bombing Yemen for now and remained open to diplomatic engagement with Iran.

U.S. investors will meanwhile look ahead to the Richmond Federal Reserve’s manufacturing survey and speeches from New York Fed President John Williams and Richmond Fed President Tom Barkin.

On the earnings front, AutoZone is scheduled to report before the market opens, while KB Home is expected to release results after the close.

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