Global Markets Today: Kospi, Australia's ASX trade higher tracking Wall Street gains

Global Markets Today: Asian markets opened on a higher note on Tuesday, boosted by a Wall Street tech rally after Nvidia revealed a partnership with OpenAI, lifting investor sentiment around the future of artificial intelligence.

Australia’s S&P/ASX 200 edged up 0.17 per cent, while South Korea’s Kospi gained 0.69 per cent and the Kosdaq rose 0.28 per cent at the open.

Japanese markets remained shut for a holiday.

Meanwhile, Hong Kong’s Hang Seng Index was poised to start higher, with futures trading at 26,396 compared to its prior close of 26,344.14.

U.S. stock market today

All three major U.S. stock indexes ended at record highs for the third consecutive session on Monday, driven by strength in technology stocks, particularly Nvidia, which surged after announcing plans to invest up to $100 billion in OpenAI.

The Dow Jones Industrial Average added 66.27 points, or 0.14 per cent, to close at 46,381.54. The S&P 500 climbed 29.39 points, or 0.44 per cent, to 6,693.75, while the Nasdaq Composite advanced 157.50 points, or 0.70 per cent, to 22,788.98.

Nvidia shares rose 3.9 per cent, with the company also confirming it will supply data center chips to OpenAI, further fueling optimism around AI growth.

Apple shares jumped 4.3 per cent after Wedbush lifted its price target, citing strong demand prospects for the upcoming iPhone 17. Tesla also advanced 1.9 per cent. The technology sector led the S&P 500’s gains, finishing 1.7 per cent higher.

So far in 2025, the S&P 500 has gained 13.8 per cent and is up 3.6 per cent in September, a month typically challenging for equities.

Meanwhile, some Federal Reserve officials expressed skepticism about the need for additional rate cuts, even as the central bank reduced rates last week for the first time since December and signaled more cuts ahead.

(With inputs from agencies)

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