A surge in artificial intelligence-related shares helped Asian equities climb back to record levels on Monday, erasing earlier losses triggered by geopolitical tensions linked to the Iran conflict.
The MSCI Asia Pacific Index rose as much as 2.3%, marking its strongest intraday gain since April 8. Technology-heavy markets in South Korea and Taiwan each jumped more than 4%, driving the regional rally, News.Az reports, citing Bloomberg.
The gains followed continued strength on Wall Street, where the S&P 500 extended a record-setting run on Friday, posting a fifth consecutive week of gains supported by strong earnings from major technology companies.
The rebound in Asian markets reflects renewed investor focus on the artificial intelligence sector, which had previously been overshadowed by Middle East tensions. A recent ceasefire agreement between the United States and Iran has also helped stabilize sentiment, easing concerns that had weighed on markets earlier.
President Donald Trump said over the weekend that the United States would begin assisting some neutral vessels trapped in the Persian Gulf to exit through the Strait of Hormuz starting Monday, further calming shipping-related risk concerns.
Asia remains central to the global AI supply chain, particularly through its dominance in semiconductor manufacturing and memory chip production. Key companies driving the sector include Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics, and SK Hynix.
On Monday, SK Hynix shares surged nearly 13%, while TSMC rose about 6.6%. Samsung Electronics gained more than 5%. Meanwhile, a gauge of Chinese technology stocks listed in Hong Kong climbed as much as 3.7%.
Analysts noted that the current rally is being strongly driven by the AI investment theme, though some cautioned that geopolitical risks and elevated oil prices could still weigh on broader equity markets.
The MSCI Asia ex Japan Index also hit a record high, rising as much as 3.1% on Monday. However, trading was lighter in some markets, with mainland China and Japan closed for holidays.
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