AI Brings US and China Tech Closer; AUD Rises on Jobs Data; GOOG, TSLA Down

Asian equity markets moved higher as AI-related demand continued to narrow the performance gap between US and Chinese technology stocks, even as political tensions remain elevated.

The Australian dollar strengthened after the country reported robust jobs figures, reinforcing expectations that the Reserve Bank may keep rates higher for longer.

In the US, Google and Tesla lagged the broader market as both companies face investor scrutiny over elevated capital expenditure plans. The ECB's latest policy signals also drew attention, though no specific decision was highlighted.

This roundup reflects a cautious but tradeable session, with macro drivers—AI narrative, FX data, and capex concerns—competing for traders' attention.