business · On.cc

Nasdaq Surges Nearly 600 Points to Record High as US Markets Rally

On.cc · 2 SOURCESabout 4 hours ago2 MIN

Summary

US stock markets surged on Tuesday with the Nasdaq Composite Index hitting a record closing high, driven by AI-linked semiconductor stocks and falling energy prices. The Dow Jones Industrial Average rose 366 points to 52,048, the S&P 500 gained 114 points to 7,764, and the Nasdaq climbed 599 points to 27,122 . Market sentiment was supported by receding oil prices and declining Treasury yields as investors anticipated potential diplomatic breakthroughs during the UN General Assembly session regarding Middle East tensions . Hong Kong-listed ADR stocks tracked the US gains, with the ADR Index closing at 25,248 points, up 205 points .

Key Points

Nasdaq Composite closed at a historic 27,122 points, up 599 points (2.26%) for its biggest gain
Dow Jones Industrial Average settled at 52,048 points, adding 366 points (0.71%)
S&P 500 Index ended at 7,764 points, rising 114 points (1.49%)
Advanced Micro Devices (AMD) and other AI semiconductor stocks led the tech rally
Oil prices retreated to an 11-day low amid hopes for Middle East diplomatic progress
Hong Kong ADR Index closed at 25,248 points, up 205 points (0.82%)
HSBC Holdings ADR settled at HK$161.94, premium of HK$0.44 over Hong Kong close
Tencent Holdings ADR finished at HK$438.17, premium of HK$8 over local trading

Why It Matters

The Nasdaq's historic surge signals renewed confidence in AI and semiconductor sectors, which could lift Hong Kong-listed tech giants and chipmakers when markets open. The correlation between US ADR performance and local Hong Kong stocks means overnight US gains typically set a positive tone for Asian trading sessions .