Asian equities climbed following a tech rally in Wall Street and expectations of Federal Reserve rate cuts. Chipmakers like Nvidia Corp. led market gains with a five-day rally.

The Chinese equity market remained focused amid concerns about the effectiveness of recent stimulus measures. Treasuries steadied after a period of selling, with a focus on Federal Reserve officials’ comments on rate cuts in November 2024.

Oil prices recovered after a significant drop driven by worries of a slowdown in Chinese demand. Interest rate decisions in New Zealand and India and other Asian economic data releases were anticipated.

South Korea joined the Financial Times Stock Exchange (FTSE) Russell’s benchmark bond index, and India was added to the FTSE Emerging Markets Government Bond Index. US stocks neared all-time highs, with investors gearing up for the next round of corporate earnings.

Honeywell International Inc. announced plans to spin off its advanced materials division, while Roblox Corporation faced pressure as Hindenburg Research bet against the gaming platform.

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