Asia-Pacific markets opened on a positive note Tuesday, following a rally in U.S. stocks as business activity remained strong in September.
At 10:45 am AEST (12:45 am GMT), Australia's ASX 200 and South Korea's Kospi 200 were both up 0.2%, while Japan’s Nikkei 225 surged by 1.4%.
In the U.S., both the S&P 500 and the Dow Jones reset record highs as flash PMI data revealed resilient business activity, while the manufacturing sector fell to 15-month lows.
The Dow Jones Industrial Average (DJIA) inched up 0.1% to 42,124.7, the S&P 500 gained 0.3% to 5,718.6, and the Nasdaq Composite added 0.1%, closing at 17,974.3.
Among the top performers in the S&P 500 were Tesla Inc., which surged 4.9%, First Solar Inc., up 3.8%, and Tapestry Inc., climbing 3.7%.
On the downside, Regeneron Pharmaceuticals Inc. dropped 4.6%, Moody's Corp. fell 3.2%, and Ross Stores Inc. declined by 2.8%.
In commodities, Brent crude oil was down 0.8%, trading at US$73.90 per barrel, reflecting cautious sentiment amid global supply uncertainties. Gold remained flat at US$2,628.03 per ounce, as investors kept a close eye on inflation trends.
Chinese stocks posted modest gains. The benchmark Shanghai Composite Index rose 0.4% to 2,748.92, while the Shenzhen Composite Index edged up by 0.1% to 1,496.8.
However, in Hong Kong, the Hang Seng Index slipped 0.1%, closing at 18,247.1.
India’s BSE SENSEX also closed higher, gaining 0.5% to 84,928.6, with tech and financial stocks leading the charge.
In Europe, shares closed in positive territory, with Germany’s DAX gaining 0.7% to 18,846.8, and France’s CAC 40 edging up 0.1% to 7,508.1. The UK’s FTSE 100 Index rose 0.4% to 8,259.7, as investors reacted to strong economic data and easing inflation concerns.