Asian equities opened with a cautious tone Tuesday, declining even as U.S. stocks drew gains from renewed enthusiasm around artificial-intelligence deals.
Benchmark indexes in South Korea and Japan were down in early trading, and Australia’s market dipped ahead of a key central-bank meeting. The U.S. S&P 500 futures slipped about 0.1% despite the S&P itself having posted a modest gain Monday.
Investors are balancing the upbeat sentiment from tech deal-news — including the sizable alliance between Amazon.com Inc. and OpenAI — with concerns over lofty valuations and an uncertain policy path for the Federal Reserve.
On the macro front, U.S. factory-activity data showed contraction for the eighth straight month in October, adding to questions about growth momentum. Meanwhile, the stronger U.S. dollar and a slide in gold highlighted the caution in commodity and currency markets.
In short, while Wall Street remains driven by technology momentum, Asia’s markets are showing a more measured response — hinting that global sentiment may be waiting for clearer signals on earnings and monetary-policy direction before committing further.
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