Asian Stocks Surge as Oil Tumbles and Nvidia Faces Class Action

Asia-Pacific markets rallied on Tuesday, powered by a sharp drop in crude oil and a fresh legal headache for Nvidia. Oil slid more than 4% after US President Donald Trump signaled further strikes on Iran are unlikely while peace talks carry on, per Breaking The News. Cheaper energy eased the inflation-and-supply fears that had been hanging over regional equities.

South Korea led the charge. The Kospi Composite climbed 4.40% in early trade, while Japan's Nikkei 225 added 2.86%. Australia's S&P/ASX 200 rose 2.35%, and on the Chinese mainland the Shenzhen Composite gained 1.16% with the Shanghai Composite up 0.27%. Hong Kong's Hang Seng lagged the pack but still edged 0.28% higher.

The other thread moving traders: a proposed shareholder class action against Nvidia and CEO Jensen Huang. The suit concerns disclosures tied to Huang's relationship with a suspected Chinese spy, according to Breaking The News. Investors shrugged off the filing for now, keeping the region-wide bid intact.

In currencies, the dollar firmed 0.11% against the yen to trade at ¥158.06400. That puts the greenback at its latest level as Asian bourses clocked gains across the board.