Global Markets React to Tech Surge and Inflation Concerns

Asian stocks, buoyed by a rebound in U.S. tech shares, saw Japan's Nikkei 225 near record highs despite the country entering a Q4 recession. The broader Asian market gains were subdued due to lingering risk aversion amid reduced expectations for early Fed interest rate cuts. Japan's recession fueled bets that the Bank of Japan will delay raising interest rates, driving a tech-fueled stock rally. Other Asian markets also rose, with Hong Kong and South Korea benefiting from strength in the tech sector, while Indonesian stocks surged on political developments. Australia's gains were tempered by a significant drop in BHP Group Ltd's stock.