Asian Stocks Poised for Muted Open After US Losses
Asian stocks were poised for a tepid open following technology-led declines on Wall Street. Precious metals were in focus after a slump in silver and gold from fresh all-time highs.
Australian shares edged higher in early trading while equity futures in Japan pointed to a weak start. Contracts on the S&P 500 Index were steady after the US benchmark fell 0.3% Monday and the Nasdaq 100 slid 0.5%. Tesla Inc., Nvidia Corp. and Meta Platforms were among the Big Tech decliners in the session.
Impact on Indian Markets
The weakness in equities “is a reversal from last week when tech stocks led on the way up,” said Joe Mazzola, head trading & derivatives strategist at Charles Schwab. However, it “doesn’t appear connected to any single fundamental factor,” he said. For more on Indian stock market analysis, click here.
A gauge of global equities ended a seven-day winning streak, while a rally in precious metals also halted as traders booked profit. Silver tumbled 9% after climbing above $80 an ounce Monday in a surge powered by speculative trades and fears of a supply shortage. Gold lost more than 4%. Both fluctuated in early trading in Asia on Tuesday.
Precious Metals and Global Equities
The S&P 500 is up some 17% year-to-date, underperforming many global peers even as it defied expectations for a tariff-fueled selloff. The MSCI All Country World Index has climbed 21% in 2025, while a measure of Asian stocks has rallied almost 26%. For insights on global equities trends, visit our website.
Even so, an optimistic consensus is taking hold that US stocks will continue rallying in 2026 after three straight years of gains. Despite a raft of risks spanning a potential bust in the artificial-intelligence advance to unanticipated policy shocks, sell-side strategists are forecasting another 9% average gain in the S&P 500 next year.
US Stocks Outlook and Interest Rates
Investors were also assessing the outlook for US interest rates and monetary policy. Wall Street interest-rate strategists — with several notable exceptions — expect stable-to-higher Treasury yields in 2026 despite Fed interest-rate cuts. To understand the implications of US interest rates and monetary policy on Indian markets, read our expert analysis.
Meantime, President Donald Trump teased that he has a preferred candidate to be the next chair of the Federal Reserve, but is in no hurry to make an announcement — while also musing that he might fire the central bank’s current leader, Jerome Powell.
Mergers and Acquisitions
Meta Platforms Inc. has agreed to acquire Singapore-based AI startup Manus, which makes an artificial intelligence agent that it sells to small and medium-sized businesses. Citigroup Inc. said it expects to post a roughly $1.1 billion after-tax loss on the sale of its remaining business in Russia to Renaissance Capital. For updates on mergers and acquisitions in tech, follow our news section.
SoftBank Group Corp. is in advanced talks to acquire DigitalBridge Group Inc., a private equity firm that invests in assets such as data centers, according to people with knowledge of the matter. DigitalBridge jumped more than 40% in premarket trading.
Global Market Updates
Airbus SE landed orders for dozens of aircraft from two Chinese carriers as the European planemaker grows its market share in Asia’s biggest economy. Origin Energy Ltd. said Kraken Technologies Ltd., a software platform that helps utilities manage the transition to cleaner energy, has been valued at $8.65 billion after the software company’s first standalone raising.
South Korea’s stock market renaissance in 2025 was one for the history books. From world-beating gains in arms exporters to the eye-popping surge in AI and K-beauty shares, investors were rewarded in a market that reached new highs. To learn more about global market trends and analysis, click here.
S&P 500 futures were little changed as of 8:26 a.m. Tokyo time. Australia’s S&P/ASX 200 rose 0.2%. The Bloomberg Dollar Spot Index was little changed. The euro was little changed at $1.1772. The Japanese yen was little changed at 156.09 per dollar. The offshore yuan was little changed at 6.9989 per dollar. Bitcoin was little changed at $87,212.17. Ether rose 0.2% to $2,940.43.
The yield on 10-year Treasuries declined two basis points to 4.11%. Australia’s 10-year yield declined two basis points to 4.74%. West Texas Intermediate crude fell 0.6% to $57.75 a barrel. Spot gold was little changed.