Japan and Aussie Stocks Rise as Wall Street Stages a Sharp Recovery; Most Asia Markets Closed for Holiday

Japan and Australian Stocks Rose Wednsday as Wall Street Rebounded Overnight, While Several Asia-Pacific Markets WERE Closed for the Lunar New Year Holiday.

Japan Benchmark Nikkei 225 Opened 0.85% Higher, While The Topix Advanced 0.5%, Reversing from the Previous Session’s Losses.

Australia’s S & p/asx 200 Rose 0.81%. The country is stated to release its inflation data later in the day. Economists Pollled By Reuters Expect the A 2.5% Rise in the 12 months to the December Quarter, Compared with 2.8% in the Previous Year.

Overnight in the US, key Indexes Recovered Some Ground from The Sell-off Sparked By the Challenge Poceed by Chinese Artificial Intelligence Startup Deepsek to the Us AI Ecosytem.

The S & p 500 Advanced 0.92% to 6,067.70, LED by Gains in Technology Shares. The Technology select sector SPDR Fund (XLK) rose more than 2%, following a 4.9% loss on Monday. The Nasdaq composite Surged 2.03% to 19,733.59, Following a 3.1% decline a day ago.

The Down jones Industrial Average Added 136.77 points, or 0.31%, to 44,850.35.

All eyes were on Nvidia which Picked up Momentum to close Around Nearly 9% Higher. The Chipmaker Lost 17%, or almost $ 600 billion in Market Value, in the Previous Session To clock the biggest ever one-day drop in value for a US company.

Other tech giats like Broadcom and Oracle Ended Tuesday’s Trading Day Up 2.6% and 3.6%, Respectively, Following Steep Losses Monday.

– CNBC’s Sean Conlon and Pia Singh Contributed to this report.