Asian shares rose to extend a tech-led rally on Wall Street, partly helped by a weaker yen that triggered a warning from Japan’s finance minister.
A gauge of regional equities gained 0.4%, as chip-related stocks increased further after Nvidia Corp. chief Jensen Huang unveiled new products that rekindled optimism over AI demand.
US futures edged lower in Asia after the S&P 500 gained 0.6% Monday and the Nasdaq 100 added 1.1%. Mainland Chinese and Hong Kong stocks were outliers.
Tencent Holdings Ltd. fell as much as 7.3%, with Contemporary Amperex Technology Co. down over 6% after the Pentagon included them in a list that labeled several Chinese companies military entities.
The yen regained some ground after Japanese Finance Minister Katsunobu Kato said he will take appropriate action against what he considers one-sided, sudden foreign exchange moves.
Japan’s currency dropped 0.3% to 158.11 per dollar after falling to 158.42, its weakest since July.
Traders are grappling with the prospect of rising trade tensions after Donald Trump denied a report that he might moderate plans for across-the-board tariffs when he retakes the White House.
