Asian technology stocks rallied Wednesday, led by a 10% surge in SoftBank, as investor optimism around artificial intelligence and growth stocks followed Wall Street's record-setting session. The gains tracked a strong day on U.S. markets, where major indexes closed at new highs, boosting demand for tech shares across the region.
Meanwhile, the Cboe Volatility Index, known as Wall Street's 'fear gauge,' is behaving unusually even as stocks hit fresh records. Stocks and the VIX move together only about 20% of the time, according to CNBC, and the current divergence is drawing attention from market watchers.
In a separate development, Bloomberg reported that Wall Street hedge funds have been targeted in cyberattacks, though it provided no further details. The report was featured on the network's 'The Asia Trade' program, which broadcasts live from Tokyo and Sydney.