Asian markets rise as Wall Street hits record high
Asian equities traded mostly higher on Tuesday, with Japan’s Nikkei 225 up as much as 1.41 percent, tracking an overnight rally on Wall Street where the Dow Jones closed at a record high, while gold prices extended their monthly decline.
Market overview
| Market/Index | Movement | Notes |
|---|---|---|
| Nikkei 225 | +1.41% (approx.) | Led Asian gains following strong US tech-led rally. |
| Topix | +0.88% / +0.17% (two readings) | Broader Japan shares higher, data show differing intraday snapshots. |
| Kospi | +1.17% / -0.92% (two readings) | South Korea benchmark showed conflicting moves across data points. |
| Kosdaq | -0.88% | Small-cap South Korea index underperformed regional peers. |
Note: figures are approximate; final exchange data not available at time of publication.
- Asian markets tracked overnight gains in US equities.
- Conflicting readings for Topix and Kospi reflect different time stamps in available data.
US equities and tech movers
| Index | Movement | Notes |
|---|---|---|
| Dow Jones Industrial Average | +0.59% | Hit record closing high, lifted by large technology shares. |
| S&P 500 | +1.18% | Broad US benchmark advanced strongly. |
| Nasdaq Composite | +2.07% | Tech-heavy index outperformed, driven by major growth stocks. |
Note: figures are approximate; final exchange data not available at time of publication.
- Nvidia gained 1.27 percent, AMD rose 3.43 percent.
- Amazon advanced 3.20 percent, Alphabet surged 4.96 percent.
- Meta added 2.24 percent, Tesla jumped 8.46 percent.
- SpaceX shares rose 7.15 percent in the latest session.
- Microsoft fell 1.18 percent, Apple eased 0.72 percent.
Global cues for Indian markets
| Instrument/Indicator | Value/Move | Context |
|---|---|---|
| Gift Nifty | 24,011 (approx., +38 pts premium) | Signals mildly positive open for Nifty 50 futures. |
| Sensex (previous close) | 76,728.37, -0.48% | Declined Monday on profit booking and crude uptick. |
| Nifty 50 (previous close) | 23,946.25, -0.46% | Closed lower ahead of fresh West Asia tensions. |
Note: figures are approximate; final exchange data not available at time of publication.
- Monday’s Indian session saw profit taking after recent gains.
- Crude price rise and geopolitical concerns weighed on risk appetite.
- Gift Nifty premium suggests cautious optimism at the open.
- “Indian equities are expected to remain cautiously optimistic amid renewed geopolitical tensions in West Asia” Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Geopolitics and macro data
- US Iran talks remain uncertain, with Iran denying scheduled negotiations.
- US officials plan travel to Doha for discussions with Iranian counterparts.
- Focus of talks includes safe navigation through the Strait of Hormuz.
- Geopolitical developments remain a key driver of global sentiment.
- Japan industrial output rose 0.5 percent month on month in May.
- Market forecast had expected a 1.1 percent increase in Japan output.
- May marked the second consecutive month of industrial production growth.
- India IIP grew 5.1 percent year on year in May.
- April IIP reading stood at 4.9 percent, indicating modest acceleration.
- Manufacturing sector performance was the main driver of IIP growth.
Commodities and currencies
| Asset | Value/Move | Notes |
|---|---|---|
| Spot gold | $3,957.74, -1.5% | Set for fourth straight monthly decline, down 12.7% for month. |
| US gold futures (Aug) | $3,971.60, -1.7% | Track similar downward trend as spot prices. |
| Spot silver | $56.89, -2.4% | Fell alongside gold in latest session. |
| Brent crude | $72.40, -1.03% | Eased ahead of expected US Iran talks in Doha. |
| WTI crude | $70.16, -0.83% | Followed Brent lower on geopolitical expectations. |
| Dollar index | 101.6 | On course for 1.3% rise in second quarter. |
| Yen | 162.27 per dollar | Weakened to a 40 year low against the US currency. |
| Euro | $1.14165 | Traded steady against the dollar in latest session. |
| Sterling | $1.3251 | Held firm versus the dollar. |
Note: figures are approximate; final exchange data not available at time of publication.
- Gold’s multi month decline reflects shifting rate and risk expectations.
- Softer crude prices may ease near term pressure on importing economies.
- Dollar strength has weighed on the yen, pushing it to multi decade lows.
Corporate developments
- HDFC Bank board approved Rajiv Kumar as part time chairman.
- Kumar also appointed additional independent director for four years from 30 June 2026.
- Puneet Sharma named chief financial officer effective 1 December 2026.
Frequently Asked Questions
How are Asian markets trading after the latest Wall Street rally?
– Asian markets are mostly higher, with Japan’s Nikkei 225 up as much as 1.41 percent and broader indices firm.
What do Gift Nifty levels indicate for the Indian market open?
– Gift Nifty near 24,011, about 38 points above the previous Nifty futures close, suggests a mildly positive start.
How are gold and crude oil prices moving amid US Iran talks uncertainty?
– Gold and silver are falling, while Brent and WTI crude eased modestly ahead of expected US Iran discussions.
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