Most Asian stocks close higher after Nvidia's 2.4% gain

Oil prices fall ahead of major tech earnings and a Federal Reserve decision

The Associated Press reported that Asian stocks were mostly higher Tuesday after an artificial-intelligence-led rally on Wall Street. Nvidia’s 2.4% gain provided the strongest lift for the Wall Street market, while South Korea’s Kospi rose 3.1%. U.S. futures edged lower after earlier gains as markets prepared for major corporate earnings and central-bank decisions.

On Monday, the S&P 500 rose 0.7% and more than recovered its losses from the prior week, pulling it within 1.8% of its all-time high set earlier this month. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite climbed 0.8%. Nvidia’s rise recovered some of its drop from three straight losing weeks, its longest such streak since June.

South Korea’s Kospi jumped more than 4% before closing 3.1% higher at 5,638.34. Computer chipmaker SK Hynix rallied 5.2%, and Samsung Electronics gained 4.2% as their earnings approached.

SK Hynix was set to release its third-quarter results Wednesday, a day before rival Samsung Electronics was scheduled to report its results. Samsung estimated a record operating profit for the last quarter at 107.4 trillion won ($80 million), up nearly eightfold from a year earlier. The report said strong global demand for semiconductors was driving strong growth. Data released Tuesday showed South Korea’s economy expanded at a better-than-expected 3.4% annual rate in July-September.

Tokyo’s Nikkei 225 added 1.7% to 63,268.37. Testing-equipment maker Advantest jumped 9.6%, and OpenAI investor SoftBank Group climbed 5%.

Hong Kong’s Hang Seng gave up early gains and slipped 0.6% to 23,077.56, while the Shanghai Composite dropped 0.3% to 3,648.30. Traders were watching for any major announcements from a closed-door meeting of top leaders of China’s ruling Communist Party.

Taiwan’s Taiex rose 0.1%. India’s Sensex slipped 0.2%. Australia’s S&P/ASX 200 advanced 0.5% to 8,852.10.

Elsewhere in the artificial-intelligence industry, stocks remained unsettled as investors weighed concerns about whether the boom was under threat because of how expensive it had become for companies to borrow money to build data centers and buy more AI chips. Meta Platforms bounced up and down after outlining plans to raise $35 billion by selling stock to help pay for its AI investments. Meta said Nvidia, Advanced Micro Devices and Broadcom had already indicated they may buy a total of $5 billion of stock in the offering.

Anthropic, one of the key players in the AI boom, gave details Monday about how much money it was losing as it prepared to sell stock on the publicly traded U.S. market for the first time. SpaceX, Elon Musk’s rocket company that also runs the xAI business, had similar swings after announcing a roughly $40 billion deal with an entity managed by Apollo Global Management to lease AI computing power.

Profit reports from large technology companies this week could offer more details about how spending on AI is going and whether it is producing the profits and productivity that proponents have promised. Alphabet and Microsoft were scheduled to report their latest quarterly results Wednesday, with Amazon due Thursday. Roughly one out of every three stocks in the S&P 500 was scheduled to report its latest quarterly results this week.

In the U.S. bond market, yields fell for longer-term Treasurys. The yield on the 10-year Treasury eased to 4.98% from 5.00% late Friday. Separately, FRED’s raw daily 10-year Treasury series recorded a 5.0% yield as of Oct. 27, 2026.

The two-year Treasury yield rose to 4.71% from 4.69% late Friday. The measure more closely tracks expectations for what the Federal Reserve will do with overnight interest rates, and the widespread expectation was that the Fed would wrap up its latest meeting Wednesday without changing the federal funds rate. The Fed had hiked the federal funds rate for the first time in three years the previous month, aiming to slow inflation that remained much higher than anyone would like. Separately, FRED’s raw monthly average for the effective federal funds rate was 3.75% as of Oct. 27, 2026.

Oil prices extended losses Tuesday. Brent crude, the international standard, fell 0.5% to $110.21 a barrel, and the U.S. benchmark dropped 1.1% to $100.66 per barrel. The dollar rose to 157.79 Japanese yen from 157.50 yen, while the euro slipped to $1.1157 from $1.1176.