Asian equities advanced as investors rotated back into tech after a week dominated by U.S.–China trade tensions. The MSCI Asia Index rose 1.1%, with South Korea, Japan, and Australia leading gains. SK Hynix jumped nearly 7%, and ZTE rallied 10%, helped by strong ASML earnings that reinforced optimism in the AI-driven chip cycle. U.S. futures edged higher, gold touched $4,242, and the dollar eased for a third day as Treasury yields hovered near yearly lows.
Market focus is turning back to policy and earnings after recent volatility. Gold’s 60% year-to-date surge reflects lingering safe-haven demand, but investors appear increasingly willing to buy dips in equities, betting that central bank easing will cushion growth risks. Oil also firmed after reports that India plans to reduce Russian imports, adding some supply tension to the energy complex.
Trade relations remain tense, with Washington and Beijing locked in another round of tariff and export-control manoeuvring, though officials continue to signal room for negotiation ahead of the November truce deadline. In Japan, political attention is building toward next week’s parliamentary vote to select the new prime minister, while Australia’s jobless rate spike has raised expectations for an RBA rate cut.
