Asian Shares Climb Seventh Month on Amazon Apple Earnings Amid China Factory Slump

Asian markets are experiencing a seventh consecutive month of gains, largely driven by strong earnings reports from US tech giants Amazon and Apple, which boosted investor confidence globally. Amazon's shares surged 13%, adding over $300 billion to its market value, while Apple's optimistic iPhone sales outlook further lifted market sentiment. Despite the overall positive momentum, Chinese stocks lagged due to weak manufacturing data and ongoing concerns about the sustainability of AI investment, which also impacted other US tech firms like Meta and Microsoft. The US-China summit resulted in some easing of trade tensions, including tariff reductions and resumed soybean purchases, but markets view these moves as temporary fixes rather than long-term solutions. Meanwhile, US Treasury yields rose and the dollar remained near three-month highs amid uncertainty about future Federal Reserve rate cuts, adding to market volatility. Japan led the Asian gains, with the Nikkei climbing significantly, while European markets remained cautious as commodity prices faced downward pressure.