Reuters reports:
Technology stocks powered Asian markets higher on Tuesday as lower oil prices lifted sentiment and investors pinned their hopes on US-Iran talks, while the dollar stood tall on bets that more hikes are needed to rein in inflation.
Attention is also turning to a high-stakes meeting between Donald Trump and Xi Jinping later this week, with investors watching for signs the leaders of the world's two largest economies can prevent a further deterioration in relations.
"The drop in oil is a big factor," said Nick Twidale, chief market strategist at ATFX Global. "Oil is the main driver and investors are jumping back into AI as has been the pattern this year."
MSCI's broadest index of Asia-Pacific shares outside Japan rose over 1% in early trading. Tech-heavy South Korean stocks jumped nearly 2% while Taiwan shares were 1.3% higher. Japan markets are closed for a holiday.
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