Asian stocks today: Markets advance on AI optimism; HSI jumps over 100 points, Kospi up 2% – The Times of India

Asian stocks advanced on Monday, kicking off the the week on the back of AI optimisim, after Wall Street saw another tech led rally.Hong Kong’s HSI jumped to 26,043, adding 136 points or 0.53%. Kospi also traded up 2.4%, reaching 4,209 at 9:25 AM IST. Shanghai also traded in green, reaching 3,956.Shenzhen, sank 1%, down 141 points.Meanwhile, Japan remained closed today for trading. Market attention is still tied to developments from last week, including a series of central bank meetings and the announcement of a year-long trade truce between Washington and Beijing. The agreement fell within broad expectations, though questions remain over whether the ceasefire will hold for the entire duration.Currency markets reflected a shift in tone from the US Federal Reserve. The dollar held near a three-month high after several Fed regional presidents publicly expressed discomfort with the recent rate cut. In contrast, Governor Christopher Waller backed further easing, saying additional support may be needed for a labour market showing signs of losing momentum.At last week’s monetary policy meeting, Fed Chair Jerome Powell said a rate cut at the December meeting was “not a foregone conclusion,” Reuters reported.Until then, traders had treated a December cut as almost guaranteed. Market pricing now reflects a 68% chance of that move, sharply lower than before the meeting, when expectations were near certainty. The central bank lowered interest rates by 25 basis points, in line with forecasts.The shift helped keep the dollar elevated. The euro was last trading at $1.1524, around a three-month low. Sterling slipped 0.27% to $1.3134, while the yen traded at 154.175 per dollar, close to its weakest level since mid-February.In commodities, gold prices softened again, extending their retreat from last month’s record highs. Oil prices moved higher after OPEC+ decided not to increase production in the first quarter of next year, easing concerns about an oversupply.