Asian Markets Follow Wall Street's Technology-Led Gains

Positive Sentiment Continues into Week's End

Asian markets extended their gains on Monday, following a strong technology sector rebound in Wall Street ¹

. The positive momentum comes as investors prepare for key economic data releases later this week that are expected to provide further guidance on monetary policy directions.

The Dow Jones Industrial Average rose 0.45%, while the S&P 500 index gained 0.58% and the technology-heavy Nasdaq Composite added 0.59% ¹

. This recovery in technology stocks helped boost investor sentiment across Asian markets, contributing to the region's gains.

Currency Movements and Central Bank Actions

The Japanese yen remained under significant pressure despite the Bank of Japan's decision to raise interest rates. The currency reached an all-time low against both the euro and Swiss franc ²

, highlighting the complex dynamics at play in global currency markets.

Market Activity and Year-End Trading

Trading activity was relatively subdued across Asia as the region approaches year-end, with many markets operating on abbreviated schedules due to holiday closures. Despite the reduced liquidity, the overall market tone remained positive, supported by the rebound in technology stocks and expectations around upcoming economic data releases.