Stocks Rise on Tech, Oil and Dollar Climb on Iran: Markets Wrap

Asian stocks climbed as traders doubled down on the AI trade, brushing aside Middle East tensions even after President Donald Trump rejected Iran’s latest peace proposal, sending crude oil higher and Treasuries lower.

MSCI’s Asia Pacific equities gauge rose 0.6% with technology shares outperforming. South Korea, a poster child for AI investments, gained 4.5% to a record. A Bloomberg gauge of Asian chipmakers hit a peak after the Philadelphia Semiconductor Index surged to an all-time high on Friday. Video game maker Nintendo Co., however, fell as much as 10% in Tokyo after warning about higher chip prices.