Asian stocks steady after Wall Street tech surge

November 04, 2025 (MLN): Asia markets traded mixed on Tuesday as investors assessed the impact of overnight gains in U.S. tech stocks and awaited the Reserve Bank of Australia’s policy decision.

Australia’s S&P/ASX 200 fell 0.7%, extending losses ahead of the RBA meeting where policymakers are expected to maintain interest rates. Japan’s Nikkei 225 gained 0.25%, while the broader Topix index rose 0.52%.

In South Korea, the Kospi slipped 1.29% after a strong recent run, though the Kosdaq managed a modest 0.24% advance.

Despite Tuesday’s decline, the Kospi has climbed in 12 of the past 15 sessions, repeatedly hitting fresh highs this month amid strong global AI momentum and domestic reforms reducing the long-standing “Korea discount.”

Hong Kong’s Hang Seng Index inched up 0.23%, while China’s CSI 300 remained largely unchanged.

Across the Pacific, Wall Street’s performance offered a mixed signal overnight. The Nasdaq Composite rose 0.46%, buoyed by tech optimism after Amazon shares surged 4% on a $38bn partnership with OpenAI that will leverage hundreds of thousands of Nvidia’s GPUs.

Nvidia added about 2% after receiving export licenses to supply chips to the United Arab Emirates. Meanwhile, the S&P 500 edged 0.17% higher, and the Dow Jones Industrial Average slipped 0.48%.

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