Asian Stocks Rise on Tech, Nasdaq Futures Slip: Markets Wrap
(Bloomberg) — Asian shares rose after Anthropic PBC’s filing for an initial public offering renewed optimism over the artificial intelligence trade following recent strains. Crude oil declined further.
Asian equities rose 0.9%, led by technology shares in South Korea and Japan, after Wall Street benchmarks on Monday snapped a two-day losing streak. Chip heavyweights SK Hynix Inc. and Samsung Electronics Co. — seen as the picks and shovels of the AI boom — both rallied over 4%, with earnings scheduled for later this week.
The advance in equities moderated, with Nasdaq 100 futures slipping 0.2% and European shares set to drop 0.3% at the open.
Tech fundraising was the main sentiment driver, with Meta Platforms Inc. seeking to raise as much as $97.5 billion from selling common and preferred stock. Broadcom Inc. arranged a $63 billion deal to finance the purchase of chips, while SpaceX signed a roughly $40 billion equipment-finance lease deal.
Elsewhere, global oil benchmark Brent fell 0.7% to about $115 a barrel as senior officials from several countries traveled to Tehran in a bid to revive talks aimed at preventing a broader escalation in the Middle East.
Anthropic’s offering will be a key test of investor appetite for AI companies after concerns over stretched valuations and heavy spending triggered a rout in chip stocks. Attention now turns to the Federal Reserve’s rate decision Wednesday and results from megacap firms, which will provide fresh clues on whether the tech trade can recover from its recent weakness.
“Anthropic’s IPO filing is expected to reignite interest in the AI sector,” said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. Semiconductor stocks are poised for a near-term rebound, given their cheap valuations and improving technical signals, he said.
In other corners of the market, a Bloomberg gauge of the dollar’s strength held its gains from the past two sessions. Treasuries edged up across the curve, with the yield on the benchmark 10-year falling two basis points to 4.97%.
The rebound in the AI trade faces a test later this week when some of the biggest AI spenders report earnings. Alphabet and Microsoft Corp. are due Wednesday, followed by Amazon.com Inc. and Intel Corp. on Thursday. Investors will be watching their spending plans and, crucially, whether those investments are generating sufficient returns.
While Asian shares gained on the day, some investors said they would be cautious about calling this a sustained recovery just yet.
“While investors are returning to AI stocks, companies are also seeking enormous amounts of fresh funding,” said Dilin Wu, a strategist at Pepperstone Group Ltd. “The question now isn’t whether companies are willing to spend on AI. It’s whether that spending can generate enough profit to make the investment worthwhile. That’s what will determine whether buyers stick around.”
Anthropic filed its long-awaited S-1, moving closer to becoming the first publicly traded company focused primarily on developing advanced AI models. Investors are scrutinizing the filing for clues on AI demand after weeks of doubts over the trade.
Wall Street has been racing to finance the AI frenzy, which includes surging demand for chips and data centers to provide computing power needed to back the technology.
But the rising levels of debt and equity pouring into the space, along with cash burn at frontier AI labs, have raised worries that some of the financing could be unsustainable.
“This is one of the most exciting investment periods I’ve ever seen,” Rick Rieder, global fixed income chief investment officer at BlackRock Inc., said in an interview with Bloomberg TV. “I spent the entire weekend looking at some of these transactions, participating in a pretty significant way in some of these transactions.”
Corporate Highlights:
HSBC Holdings Plc reported a 32% jump in quarterly profit, missing analyst estimates even as the lender expressed optimism about the rest of the year. Microsoft will offer buyouts to about 60,000 workers, part of the company’s efforts to trim costs and retool its workforce for the AI era. The iPhone Duo, one of Apple Inc.’s biggest new products in years, is drawing a growing number of complaints from customers who say the foldable display cracked after just hours or days of use. Some of the main moves in markets:
Stocks
S&P 500 futures were little changed as of 3:05 p.m. Tokyo time S&P/ASX 200 futures rose 0.4% Japan’s Topix rose 0.8% Hong Kong’s Hang Seng fell 0.5% The Shanghai Composite fell 0.2% Euro Stoxx 50 futures fell 0.3% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1166 The Japanese yen fell 0.2% to 157.76 per dollar The offshore yuan was little changed at 6.6668 per dollar The Australian dollar was little changed at $0.7022 Cryptocurrencies
Bitcoin rose 0.1% to $79,813.07 Ether rose 0.3% to $2,309.59 Bonds
The yield on 10-year Treasuries declined two basis points to 4.97% Japan’s 10-year yield was little changed at 2.785% Australia’s 10-year yield was little changed at 5.15% Commodities
West Texas Intermediate crude fell 0.8% to $100.96 a barrel Spot gold fell 0.3% to $4,005.14 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Momoka Yokoyama, Winnie Hsu and Paul Dobson.
(An earlier version corrected references to China’s bond yield.)
©2026 Bloomberg L.P.
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