Asian Markets Rise On Tech Gains, Oil Steady After Maduro Ouster

Most Asian markets rose Tuesday, tracking Wall Street's first record of the year as investors bet on AI-linked tech stocks. Hong Kong gained over 1%, while Tokyo, Shanghai, Singapore, Wellington, Taipei, Manila, and Jakarta also posted strong gains. Seoul dipped slightly after soaring more than 3% Monday.

The rally follows a surge in tech giants including Amazon and Meta, which helped the Dow Jones close at a new record. Despite US manufacturing contracting for a 10th straight month in December, the data gives the Federal Reserve room to cut interest rates. Key US jobs data due this week will provide further guidance ahead of the Fed's end-of-month meeting.

Oil prices slipped (WTI down 0.5% at $58.01/barrel) after whipsawing following the ouster of Venezuelan President Nicolas Maduro. While Venezuela holds about 20% of global oil reserves, experts say its crumbling infrastructure and political uncertainty would hamper any quick production ramp-up.

South Korea's Hyundai dropped early gains after unveiling its Atlas humanoid robot prototype at CES, though the AI-powered device is slated for US plant work by 2028. In Australia, BlueScope Steel rocketed 20% after receiving a US$8.8 billion joint takeover bid.

With tech valuations stretched but earnings still supportive, analysts remain optimistic. Will you adjust your portfolio toward AI-exposed tech stocks, or stay cautious amid geopolitical shocks and manufacturing slowdowns?

SOURCE: https://www.channelstv.com/2026/01/06/markets-extend-global-rally-oil-dips/