\n<\/p>\n
Asian stocks rose broadly on Tuesday in anticipation of a Federal Reserve rate cut when the U.S. central bank announces its monetary policy decision on Wednesday. <\/p>\n
Fed officials will also release their quarterly update of economic and rate forecasts on Wednesday and Fed Chair Jerome Powell will hold his regular post-decision press conference, as concerns about a softening labor market take precedence over sticky inflation.<\/p>\n
The focus was also on ongoing U.S.-China talks, with reports suggesting that Washington has reached a “framework” deal with China on TikTok’s U.S. operations.<\/p>\n
Also, U.S. Treasury Secretary Scott Bessent stated that the Trump administration will hold off on new tariffs on Chinese goods related to Russian oil purchases, pending substantial tariff actions from European countries.<\/p>\n
China’s Shanghai Composite index finished marginally higher at 3,861.86 after a choppy session. Hong Kong’s Hang Seng index ended little changed with a negative bias at 26,438.51, giving up early gains.<\/p>\n
Japanese markets<\/span> eked out modest gains to close at a record high for a fourth day running, led by gains in the chip sector. <\/p>\n The Nikkei average gained 0.30 percent to close at 44,902.07 while the broader Topix index settled 0.25 percent higher at 3,168.36. <\/p>\n Wafer maker Sumco jumped more than 9 percent while Tokyo Electron, Resonac Holdings and Disco Corp climbed 2-8 percent. <\/p>\n Seoul stocks rose sharply to set a new record high for the fifth consecutive session as blue-chip tech shares like Samsung Electronics and SK Hynix soared 4-5 percent on expectations for the South Korean government’s policy road map aimed at fostering advanced industries. The Kospi average jumped 1.24 percent to 3,449.62. <\/p>\n Australian markets ended modestly higher as energy and mining stocks surged, more than offsetting losses in the healthcare sector. <\/p>\n The benchmark S&P\/ASX200 rose 0.28 percent to 8,877.70, while the broader All Ordinaries index finished up 0.33 percent at 9,151.20.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index ended up 0.20 percent at 13,234.89 ahead of key central bank decisions due this week, including those in the U.S., Britain, Japan and Canada.<\/p>\n Gold scaled a record high in Asian trade, and the dollar was on the back foot, while WTI crude oil futures fell toward $63 per barrel, erasing earlier gains that stemmed from concerns over supply disruptions from Russia.<\/p>\n U.S. stocks rose overnight following positive comments from President Donald Trump about trade talks between top U.S. and Chinese officials in Europe.<\/p>\n In a post on Truth Social, Trump said that the talks have “gone VERY WELL!” adding that a “deal was also reached on the sale of Chinese-owned social media TikTok.<\/p>\n Trump also said that he will be speaking with Chinese President Xi Jinping on Friday and described the relationship as “a very strong one.”<\/p>\n In another development, China’s antitrust regulator said an initial investigation showed Nvidia violated antimonopoly law.<\/p>\n The tech-heavy Nasdaq Composite and the S&P 500 gained 0.9 percent and half a percent, respectively to reach new record closing highs while the Dow inched up 0.1 percent. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n