Europe Asia News

With strong signals in the artificial intelligence sector easing concerns over excessive valuations of tech giants, Nasdaq 100 futures rose more than 1%, while contracts linked to the S&P 500 and the Dow gained over 0.5%.

Following a strong debut by Shanghai Biren in Hong Kong, companies exposed to artificial intelligence and data center infrastructure advanced, while Baidu announced it had filed for an initial public offering of its chip unit.

In addition, U.S. President Trump postponed tariffs on certain furniture products, lifting RH and Wayfair futures by more than 2% and supporting the view that the White House may adopt a more cautious stance on trade barriers this year.

Meanwhile, broader sectors of the stock market were supported by expectations that the Federal Reserve will maintain strong growth and low interest rates this year.

In Asia-Pacific, taking the first steps into the new year, South Korea’s Kospi index rose 0.65% to a record high, while the small-cap Kosdaq gained 1.47%. Australia’s S&P/ASX 200 index rose 0.13%.

Hong Kong’s Hang Seng Index also climbed 1.48%, led by gains in education services stocks. AI chip designer Shanghai Biren surged more than 100% after beginning trading for the first time on the Hang Seng following an IPO worth HK$5.58 billion ($717 million). The offering drew demand exceeding 2,300 times even after the exercise of the greenshoe option, while the international tranche was oversubscribed 25.95 times.