Asia-Pacific Shares Rise on Tech Capex Optimism; Yen Weakens, Aussie Jobs Beat in Focus
Asian stocks advanced, led by South Korea's KOSPI, as major US tech companies' capital expenditure plans boosted chipmakers. The yen remained under pressure while traders await the European Central Bank decision and digest a stronger-than-expected Australian employment report.
Asia-Pacific equity markets saw moderate gains overnight, driven by a positive spillover from capital-spending announcements by large US tech firms, which lifted Asian semiconductor stocks.
South Korea's KOSPI was the top performer, surging over 4% and approaching its daily channel resistance line extended from the all-time high.
Meanwhile, the Japanese yen continued to nurse losses, and the Australian dollar found support after a better-than-forecast employment report. Market participants are now turning their attention to the European Central Bank's policy decision later today.
Source: FXStreet Forex News