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Asian stocks experienced a slight increase following Wall Street's record-breaking rally, fueled by renewed optimism in big tech, particularly Nvidia's investment in OpenAI. While US equities have risen for three weeks, buoyed by the anticipated Federal Reserve rate cut, investors are advised to remain cautiously optimistic.
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Information technology stocks faced a downturn on Monday, pulling market indices down due to President Trump's decision to increase H-1B visa costs. The Nifty IT index experienced a significant drop, with major companies like Infosys, TCS, and Wipro declining. This move heightened concerns about the sector's growth prospects, already facing uncertainty from AI and a demand slowdown in the US.
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The United Nations reiterated its support for a two-state solution as the only viable path to resolving the Israeli-Palestinian conflict, ahead of a key General Assembly session. Several nations, including France, Canada, the UK, and Australia, have formally recognized the State of Palestine, increasing international pressure on Israel.
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