--- title: "GLOBAL MARKETS-Asian stocks reverse losses as China tech roars back" description: "Asian stocks rebounded on Wednesday, led by a rally in Chinese tech shares, with the MSCI Asia-Pacific index up 0.1%. Alibaba's shares surged 7.8% following the announcement of its largest AI model. D" type: "news" locale: "en" url: "https://longbridge.com/en/news/258639206.md" published_at: "2025-09-24T06:58:01.000Z" --- # GLOBAL MARKETS-Asian stocks reverse losses as China tech roars back > Asian stocks rebounded on Wednesday, led by a rally in Chinese tech shares, with the MSCI Asia-Pacific index up 0.1%. Alibaba's shares surged 7.8% following the announcement of its largest AI model. Despite a decline in U.S. equities after Fed Chair Powell's remarks on valuation, traders are betting on potential rate cuts. Australian shares fell 0.9% due to rising consumer prices, while Japan's Nikkei index rose 0.3%. Brent crude and gold prices saw slight increases amid market fluctuations. Shares recover as Chinese stocks rally Fed chair speech provides few clues to traders Soft economic data renews growth concerns (Recasts, updates prices, adds quotes) By Gregor Stuart Hunter SINGAPORE, Sept 24 (Reuters) - Stocks in Asia rebounded on Wednesday, shaking off earlier Wall Street-led losses as renewed enthusiasm for artificial intelligence and semiconductors breathed fresh life into China’s tech-led rally. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) reversing an earlier decline of as much as 0.5% earlier in the session to be up 0.1% by mid-afternoon trading. Chinese stocks led the charge, with a gauge of Hong Kong-listed companies (.HSCE) up 1.5% and the STAR 50 Index (.STAR50) rising 3.6%. Alibaba’s Hong Kong-listed shares (9988.HK) surged as much as 7.8% after the e-commerce giant announced on Wednesday its largest ever AI model, the Qwen3-Max. “The upward trend for A-shares has steepened since August with major indices breaking through the October 2024 highs,” UBS analysts wrote in a research note. “This has created a money-making effect that is gradually attracting investors off the sidelines.” The greenback stabilised after two consecutive days of decline, with the dollar index (.DXY) up 0.2% at 97.438. Against the yen (JPY=) , the dollar was up 0.3% at 148.05. U.S. stock futures (ESc1) were last up 0.2%, recovering from a dip on Wall Street on Tuesday. The S&P 500 (.SPX) sank 0.6% to mark its biggest one-day loss in three weeks, after remarks by Federal Reserve Chair Jerome Powell on Tuesday. “U.S. equities and bond yields declined because Fed Chair Jerome Powell’s speech explicitly described equities as ‘fairly highly valued’ and acknowledged that there was no ‘risk-free path’ for policy,” DBS analysts wrote in a note. “He did not commit to aggressive rate cuts due to the challenging situation of balancing the upside risk to inflation with the downside risk to employment.” Asian stocks are trading near a four-year high and remain on track this month for their best monthly performance in a year, following weakness in the dollar, a surge in regional technology stocks and a resumption of the Federal Reserve’s policy easing cycle. Australian shares (.AXJO) were a notable drag on the Asian benchmark on Wednesday, down 0.9%, extending losses after a bigger-than-expected rise in consumer prices in August. “Although the RBA won’t pay much heed to the pickup in headline inflation, the strength in core inflation will give it pause for thought,” Capital Economics analysts wrote in a research note. Japan’s Nikkei stock index (.N225) was last trading up 0.3%, reversing earlier declines. Traders have ramped up bets on further U.S. rate cuts, with Fed funds futures implying a 91.9% chance of a rate cut at the central bank’s October meeting, up from a 89.8% probability on Tuesday, according to the CME Group’s FedWatch tool. Longer-dated U.S. government bonds attracted buyers, with the yield on benchmark 10-year Treasury notes (US10YT=RR) falling to 4.1042%, compared with its U.S. close of 4.118% on Tuesday. The two-year yield (US2YT=RR) , which rises with traders’ expectations of higher Fed funds rates, fell to 3.5673% compared with a U.S. close of 3.57%. U.S. economic data released on Tuesday stoked growth concerns, with purchasing managers’ index (PMI) data from S&P Global showing business activity slowed for a second straight month in September. “The S&P PMIs were softer in the September preliminary release, but both remain in expansion and are within the range of the last few months,” Citi analysts wrote in a research note. But they pointed to more weakness in the details than implied in the headline numbers. “The composite output prices index fell to the lowest level since April with anecdotes mentioning that firms are having difficulty passing on higher costs to consumers due to weak demand and more competition,” the analysts said. In oil markets, Brent crude (LCOc1) was last up 0.1% at $67.71 per barrel, after a deal to resume exports from Iraq’s Kurdistan stalled, pacifying some investor concerns that the restart would exacerbate worries about global oversupply. Gold was slightly higher after hitting a record high on Tuesday, with spot gold (XAU=) last up 0.3% at $3,773.36 per ounce. (GOL/) World FX rates YTD here ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Nvidia's new Meta deal may not be great news for these other tech stocks | Nvidia's expanded partnership with Meta has negatively impacted shares of competitors like Broadcom, AMD, and Arista. Me | [Link](https://longbridge.com/en/news/276186338.md) | | Robinhood to Launch Private Markets Fund for Retail Investors – These Are Its Holdings | Robinhood has launched Robinhood Ventures Fund I, its first closed-end fund, set to trade on the NYSE under the ticker R | [Link](https://longbridge.com/en/news/276167795.md) | | Will China Literature Turn The Page? | China Literature Ltd. expects a net loss of up to 850 million yuan for last year, primarily due to a 1.8 billion yuan go | [Link](https://longbridge.com/en/news/276113491.md) | | Viking Global Dissolves Share Stake In Nike,Meta Platforms,Philip Morris | Viking Global has dissolved its share stakes in Nike, Meta Platforms, and Philip Morris, according to SEC filings. The f | [Link](https://longbridge.com/en/news/276178311.md) | | Coatue Management Cuts Share Stake In Nvidia,Tesla,Oracle,dissolves in Pinterest | Coatue Management has made significant adjustments to its shareholdings, as reported in SEC filings. The firm has reduce | [Link](https://longbridge.com/en/news/276178403.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.