Asia equities rally on chip stocks, China support, Japan spending plan
Asian stock markets rebounded, lifted by semiconductor-related shares, Chinese policy support, and Japan's cabinet approval of a large fiscal spending package. Meanwhile, the US followed through on tariffs against Canada, Oracle faces an extra $7 billion bill for a Wisconsin data center, and US-IR airstrikes continue for a tenth day.
Asian equities staged a broad rebound on Monday, driven by strength in chip-related stocks, continued policy backing from China, and Japan's cabinet approval of a “big-boned” fiscal spending plan aimed at stimulating the economy.
In other developments, the United States followed through on previously announced tariffs against Canada. Oracle is reportedly facing an additional $7 billion in costs for its data center project in Wisconsin. Meanwhile, US-led airstrikes against Iranian-backed groups have entered their tenth consecutive day.
Source: FXStreet Forex News