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Asian shares extend gains ahead of tech earnings, yen fragile

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Asian shares extend gains ahead of tech earnings, yen fragile

SYDNEY - Asian shares extended gains on Tuesday, taking cues from Wall Street as focus shifts to earnings results from U.S. tech giants in the week, while a still strong dollar pressured the Japanese yen to fresh 34-year lows.

Tech shares in the region cheered. Taiwan Semiconductor Manufacturing Co Ltd rallied 1.5% while MSCI Asia-Pacific ex-Japan IT index jumped 0.8%.On Wall Street, big tech shares outperformed ahead of their quarterly results this week, sending the Nasdaq 1.1% higher. AI darling Nvidia (NASDAQ: In addition to top corporate earnings, markets are also awaiting the release later this week of the U.S. gross domestic product figures and the March personal consumption expenditure data - the Fed's preferred inflation gauge - to further ascertain the trajectory of monetary policy.

On Tuesday, they were little changed amid a lack of data and news, with two-year yields holding at 4.9713% and 10-year yield at 4.6167%.

 

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