Nasdaq futures advanced by 0.7%, mirroring the broadly positive sentiment across Asian equity markets at the start of the new year. The Hang Seng Index climbed nearly 3%, with the Hang Seng Tech Index notably outperforming the broader market, as multiple developments collectively injected a familiar wave of optimism into the artificial intelligence sector.
AI chip design firm Biren Technology saw its shares surge substantially on its first day of trading; Baidu's AI chip subsidiary, Kunlun Xin, secretly filed for a Hong Kong IPO, which also propelled Baidu's stock higher; furthermore, DeepSeek published a research paper detailing a more efficient method for developing AI models.
Euro Stoxx 50 futures declined by 0.5%, although this figure is somewhat distorted—due to the New Year holiday, the Eurex exchange was closed on New Year's Eve, a period when U.S. stocks were in a downturn. FTSE index futures may offer a more reliable indicator, currently showing a gain of 0.3% (the UK market opened for a half-day session this Wednesday).
Trading in the U.S. Treasury cash market is set to resume only on the hour, affected by a Japanese holiday, while Treasury futures prices are currently lower.
The Bloomberg Dollar Spot Index showed minor fluctuations, having fully recovered from its earlier losses.
Among G10 currencies, the Australian dollar was the strongest performer, rising 0.3% against the U.S. dollar, while the Japanese yen was the weakest, falling 0.2%.
Spot silver prices climbed 3.5%, breaching the $74 per ounce level once again. Gold and the prices of most base metals were also trading higher.
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