Stocks rose as investor optimism grew after President Donald Trump signaled a willingness to let US companies resume some chip sales to China and extended a trade truce with Beijing.
A gauge of Asian shares advanced 0.6%, paring some of their earlier gains after China urged local firms not to use Nvidia’s Corp.’s H20 processors.
Earlier, Trump said he’d be open to allowing Nvidia to sell a scaled-back version of its most advanced AI chip to China. Asian technology shares rose Tuesday, led by gains in chipmakers such as Advantest Corp.
Sentiment was lifted by Micron Technology Inc.’s outlook and signs of easing tensions at Intel Corp. Japan’s Nikkei-225 index was the standout, gaining 2.4% to a record high as Softbank Group Corp. surged.
The yen weakened for a third consecutive session while a gauge of the dollar declined 0.1%. Equity-index futures for Europe rose 0.5% while those for the US were flat, paring some of their gains after China’s directive.
Trump’s move on chip exports helped ease market concerns over escalating technology sanctions and potential supply-chain disruptions.
