Asian Stocks Advance on Tech, Oil Climbs on Iran: Markets Wrap

Asian stocks climbed at the open as traders doubled down on the artificial intelligence trade, looking past Middle East tensions even after President Donald Trump rejected Iran’s response to his latest proposal to end the war. Oil jumped.

MSCI’s Asian equities gauge rose 1%, with South Korea, a poster child for AI investment, jumping as much as 5% to a record. Momentum in the sector remained strong, with the Philadelphia Semiconductor Index surging to an all-time high on Friday. Nintendo Co., however, fell 9% in Tokyo after its forecast missed estimates.