Investing.com– Asian stocks climbed on Tuesday as mediation efforts in the Middle East cooled a rally in oil prices, while investors turned their attention to a busy week of corporate earnings to gauge the momentum of an artificial intelligence-driven rally.
Overnight on Wall Street, U.S. stocks ended modestly lower amid renewed geopolitical risks.
U.S. stock futures pointed to a firmer open in Asian trading on Tuesday, with tech-heavy Nasdaq futures leading gains.
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, Nikkei lead gains as tech rebounds
Japan’s advanced more than 2% after markets reopened from a holiday, while the broader gained 1.8%.
South Korea’s KOSPI rebounded nearly 4% after slipping nearly 5% in the previous session, as investors returned to beaten-down technology shares.
Samsung Electronics () shares surged over 6%, while SK Hynix Inc () climbed 4.5%.
Oil prices eased slightly on Tuesday after reports that mediators had presented Iran with a proposal for a 10-day ceasefire aimed at reviving negotiations to end the conflict with the United States, although geopolitical risks remained elevated.
Yemen’s Iran-aligned Houthis said they would impose a naval blockade on Saudi Arabia, raising the prospect of further disruptions to regional energy shipments and limiting the decline in oil prices.
Traders eye key U.S. tech earnings
China’s rose 0.6%, while the blue-chip climbed 1.7%.
Hong Kong’s edged down 0.2% after gaining in the previous session — bucking the larger regional trend.
Elsewhere, Australia’s S&P/ASX 200 traded flat, while Singapore’s rose 0.7%.
Futures tied to India’s edged up 0.4%.
Investors are now looking ahead to quarterly earnings from major U.S. technology companies, including Alphabet (), Tesla (), and Intel Corporation (), for fresh evidence that heavy spending on AI infrastructure continues to generate returns after recent concerns over lofty valuations rattled global chip stocks.
The earnings season follows strong recent results from and Samsung Electronics, but analysts said expectations remain elevated, leaving little room for disappointment.