Asian Markets Climb: Tech Rally and Political Strains in Europe Shape Global Financial Outlook

Asian markets experienced an upswing, driven by gains in technology and Chinese shares, while the U.S. dollar firmed amidst political uncertainty in France. The euro stumbled due to pressure on the French government and monetary policy outlooks, affecting broader currency markets. U.S. Fed policies remain in focus.

Asian markets enjoyed a positive start to the week as tech shares rallied and Chinese stocks gained momentum, bolstered by favorable manufacturing data. Concurrently, the robust performance of the U.S. dollar reflected traders' heightened interest, despite political turbulence in Europe impacting currency dynamics.

The euro faced significant pressure due to looming instability in the French government. Prime Minister Michel Barnier grappled with a deadline to secure budget agreements or risk a no-confidence vote, causing the euro to slide further amidst unfavorable eurozone monetary policy prospects.

Market watchers are now keenly observing U.S. Federal Reserve actions, pending insights from the upcoming payrolls report. This event, coupled with a series of speeches from Fed officials, is expected to shape future interest rate decisions. Meanwhile, stocks in the U.S. hit all-time highs, providing a boost to Asian tech markets.

(With inputs from agencies.)