Stocks Rise as Trade Fears Are Overshadowed by Tech Optimism – Asia Market Wrap

Asian markets rose as investors switched their emphasis to technology bets following a week dominated by the prospect of a US-China trade war.

An MSCI index of regional shares increased by up to 1.1% as benchmark indices in South Korea, Japan, and mainland China surged. The swings were fuelled in part by a return to bets on tech companies, following Wednesday’s reports from Dutch chip-machine maker ASML, which increased hope that the AI boom can still boost corporate profitability.

Gold surged to as high as $4,242 per ounce, extending gains this year to more than 60%, as trade tensions and anticipation of future Fed interest-rate reduction enticed purchasers. After Trump claimed that Indian PM Modi had pledged to stop buying Russian barrels, which might put pressure on the world’s supply, oil prices rebounded from a five-month low.

The broad surge in Asian markets demonstrated that investors are still enthusiastic about the area, despite heightened trade concerns between China and the US. Asian stocks have outperformed US benchmarks this year, with the MSCI regional gauge up 23%.

Political tensions are rising in Japan as Takaichi, the leader of the ruling party, urged the leaders of an opposition party located in Osaka to support her in a parliamentary vote that will choose the PM next week.