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. US equity-index futures were little changed after the underlying gauges closed at a record on Friday. Contracts indicated a tepid start for European stocks. While investors stayed upbeat on technology, developments in the Middle East weighed on broader markets. Brent crude rose 4.3% to over $105 a barrel as Trump’s rejection effectively prolonged the closure of the Strait of Hormuz. Higher oil prices, which stoked inflation concerns, weighed on bonds, with the 10-year Treasury yield climbing four basis points to 4.39%. The dollar, the haven of choice during the Middle East conflict, strengthened against almost all its Group-of-10 peers. Gold fell to around $4,700 an ounce on bets interest rates will stay elevated. Global equities have erased war-driven losses and climbed to records as investors bet heavy spending on AI will boost corporate profits. Asian shares have benefited as traders pile into chipmakers, seen as the “picks and shovels” of the AI supply chain. The relatively modest moves outside of tech also suggest that traders are pricing in an eventual de-escalation in the Middle East, although the path remains uneven. Global stocks surged last week, pushing the S&P 500 and Nasdaq 100 to fresh records. A solid US employment report, along with a drumbeat of stronger-than-expected corporate results, has bolstered speculation that the world’s largest economy remains resilient in the face of energy stress triggered by the Iran war. About 82% of the S&P 500’s companies have beaten first-quarter profit estimates, according to data compiled by Bloomberg. “The AI infrastructure story remains the dominant force in global equities right now, with the data center build-out and the capex cycle behind it powering a concentrated rally in tech that is essentially running its own race,” said Josh Gilbert, a market analyst at eToro Ltd. Across markets, the success of the momentum strategy — piling into recent winners — has effectively become a defining feature. A gauge of chipmakers jumped 11% in five sessions. Crude oil is another key area of focus. While prices rose on Monday, the cost of a real-world oil cargo is dropping fast as buyers back away, in a dramatic reversal from last month’s bidding frenzy despite the ongoing closure of the Strait of Hormuz. The retreat provides a counterintuitive backdrop to warnings that the oil market is barreling toward a crisis point. Beyond the war, traders have a lot to parse this week with the scheduled meeting between Trump and Chinese President Xi Jinping and US inflation data, which will offer clues on where interest rates are headed. In currencies, the pound weakened ahead of a speech by UK Prime Minister Keir Starmer to forestall an immediate challenge to his job. Starmer will lay out a plan to turn the governing party’s fortunes around, including a commitment to take the UK closer to the European Union a decade after the Brexit vote.
Nikkei +0.06% Hang Seng -0.29% CSI +1.41% Shanghai +0.94% Shenzen +1.67%
Eur$ 1.1753 CNH 6.7920 CNY 6.7960 JPY 157.10 GBP 1.3587 CHF 0.7791 RUB 74.21 TRY 45.3784 WTI$ 99.90 +4.74% Gold 4;674 -0.88% BTC 80,874 +0.20% ETH 2,335 +0.31%
S&P -0.10% Nasdaq +0.01% EuroStoxx +0.03% FTSE +0.18% Dax -0.06% SMI +0.21%
Macro :
- Trump Rejects Latest Iran Peace Offer as ‘Totally Unacceptable’
- Trump Aims to Press Xi Over China’s Approach to War in Iran
- US Prepares AI Security Order That Omits Mandatory Model Tests
- US Prepares AI Security Order That Omits Mandatory Model Tests
- Qatar Sends First LNG Shipment Through Hormuz Since War Started
- Goldman Sees Fed Cuts Delayed to December, March on Inflation
Keep an eye on :
Keep an eye on :
- ABBN SW : ABB to Invest $200M in Europe to Accelerate Grid Transformation
- ANA SM : Acciona Taps Banks to Assess Renewables Unit Takeover: Expansión
- ACAD SS : Academedia 3Q Net Sales Meet Estimates
- ALM SM : Almirall 1Q Normalized Net Income Misses Estimates
- ARGX BB : Argenx FDA Approval Expands VYVGART Use For All gMG Patients
- ARGX BB : Argenx FDA Approval Expands VYVGART Use For All gMG Patients
- NDA GY : Aurubis 2Q Pretax Operating Profit Misses Estimates
- AVGO US : Apollo, Blackstone Weigh $35 Billion Financing for Broadcom
- Crebras IPO : Cerebras, Which Makes Dinner-Plate Sized AI Chips, Plans to Go Public Thursday -- WSJ
- Cerebras IPO : Cerebras to Boost Price of IPO to as High as $160, Reuters Says
- DHER GY : Prosus Sells 5% Delivery Hero Stake to Hong Kong’s Aspex (15.2mil shares @ 22 euros vs 19.99 at close friday)
- DIA IM : DiaSorin 1Q Adjusted Ebitda Beats Estimates
- DIA IM : DiaSorin 1Q Adjusted Ebitda Beats Estimates
- DKNG US : DraftKings Eyes Bigger Spending on Prediction Markets -- Interview
- EL FP : Armani could split 15% stake among L'Oreal, LVMH, EssilorLuxottica, report says - Reuters
- ENX FP : Euronext April Total Cash Market Transaction Value M/M -20%
- G1A GY : GEA Group 1Q Orders Beats Estimates
- GLEN LN : Colombia Calls on Glencore for Talks About Cerrejon Coal Mine
- GOOGL US : Google’s Isomorphic Labs to Raise Over $2 Billion in New Funding
- GOOGL US : AI Wins Have Alphabet Poised to Become World’s Biggest Company
- GRE SM : Grenergy Gets $268 Million Funding For Monte Aguila Plant
- HNR1 GY : Hannover Re 1Q P&C Combined Ratio 83.6% Vs. 93.9% Y/y
- Hesling IPO Drone start-up Helsing set for $18bn valuation as investors pile into defence
- HYQ GY : Hypoport 1Q Ebit EU12.1M Vs. EU8.6M Y/y
- SDF GY : K+S 1Q Revenue Meets Estimates
- KNDS IPO : Tank maker KNDS pushes Berlin to decide on taking stake before IPO - FT
- MC FP : Armani could split 15% stake among L'Oreal, LVMH, EssilorLuxottica, report says - Reuters
- MRNA US : Moderna Flags Work on Hantavirus Vaccines Before Cruise Outbreak
- NP3 SS : NP3 Fastigheter Buys SEK421 Million Industrial Properties in Sweden
- OR FP : Armani could split 15% stake among L'Oreal, LVMH, EssilorLuxottica, report says - Reuters
- OUST US : Ouster Files for Up to $100 million Shares ATM Offering
- PRX NA : Prosus Sells 5% Delivery Hero Stake to Hong Kong’s Aspex
- SDRL US : Seadrill Boosts FY Adjusted Ebitda Forecast
- SLEEP SS : Altor Offers to Buy Sleep Cycle For SEK24.50 a Share in Cash
- STM GY : Stabilus Sells Fabreeka, Tech Products To VMC Group for ~$92m EV
- TLX GY : Talanx/HDI, Afirme Agree to Mexico Insurance Partnership
- TEN IM : Tenaris to acquire Artrom Steel Tubes S.A. seamless pipe manufacturing plant in Romania
- TKMS GY : TKMS 1H Order Intake €3.4b
- TRASTOR GA : Watch Trastor After It Sets Maximum Offer Price of €1.15 a Share
- WHA NA : Wereldhave Says CFO Marcel Eggenkamp to Step Down
- WTB LN : Whitbread Rises as Billionaire Livingstone Discloses Stake