As Traders Look Past Venezuela, Stock Market Rises – Asia Market Wrap

Asian equities reached a fresh all-time high as investors increased their wagers on tech stocks, extending last year’s rise in AI-related businesses.

MSCI’s regional benchmark stock index increased by up to 1.7%, with chipmakers including Samsung and TSMC leading the way. A barometer of emerging markets also reached a new high, while equity-index futures in the US and Europe rose. Bitcoin led gains among cryptocurrencies.

After the US moved to overthrow Venezuelan President Maduro over the weekend, silver climbed as much as 4.8% and gold jumped as much as 2% to nearly $4,400 per ounce. Copper soared to an all-time high on concerns of tightening supplies. Oil prices fluctuated amid concerns over global oil supply.

Oil prices fluctuated, indicating that the global petroleum market is initially taking Venezuela’s moves in stride. Brent dipped as much as 1.2% at the start before recovering to trade at $61 per barrel.

On Monday, the yield on the benchmark 10-year US Treasury declined 1 bps to 4.18%, while the Dollar index jumped 0.3%.