Shares are higher in Asia in an upbeat start to the new year

BANGKOK -- Asian markets began the new year Friday with gains, while U.S.futures and oil prices also advanced.

Hong Kong's Hang Seng jumped 2.2% to 26,189.79 on a strong rally in tech shares.E-commerce giant Alibaba climbed 3.2% and search engine and technology company Baidu jumped 7.5% after it said it plans to spin off its artificial intelligence computer chip unit Kunlunxin, which would list shares in Hong Kong early 2027.

The plan is subject to regulatory approvals.Markets were still closed in Tokyo, Shanghai, Thailand and New Zealand.South Korea's Kospi picked up 1.5% to 4,277.94, while the S&P/ASX 200 in Australia edged 0.2% higher, to 8,727.30.

Taiwan's Taiex was up 1.1% and the Sensex in India added 0.1%.Asian shares have been supported by expectations that growth in the use of artificial intelligence will spur demand for computer chips and other items needed to build out data centers and other infrastructure.

Recent manufacturing data for much of the region has been relatively weak, though trade has remained resilient.“Exports from most countries have surged in recent months, and we think the near-term outlook for Asia’s export-oriented manufacturing sectors remains favorable,” Shivaan Tandon of Capital Economics said in a report.The future for the S&P 500 was up 0.5% while that for the Dow Jones Industrial Average added 0.3%.On Wednesday, U.S.

stocks finished 2025 with a fourth day of losses, despite strong gains for the year.The S&P 500 gave up 0.7% to 6,845.50 and the Dow fell 0.6% to 48,063.29.

The Nasdaq composite closed 0.8% lower at 23,241.99.Popular ReadsBody found confirmed to be missing teen, death ruled suicideDec 31, 3:49 PMSeveral trails temporarily closed on California mountain after 3 hikers found deadJan 1, 11:51 AMSheriff releases dash cam video that may show missing 19-year-old girlDec 30, 7:53 AMThe S&P 500 set 39 record highs in 2025 and closed 16.4% higher for the year.

The Nasdaq gained 20.4% and the Dow fi...