Global Market Today: Asian stocks climb after tech shares power Wall Street

Asian stocks experienced an early trading boost on Monday as heavyweight technology shares mirrored US counterparts' gains, buoyed by optimism over Meta Platforms Inc.'s newly launched artificial intelligence (AI) agent. The MSCI gauge of Asian shares increased by 0.5%, with Samsung Electronics Co. and SK Hynix Inc. leading the rally.

South Korea's Kospi Index surged more than 2%. US market benchmarks also rose after the S&P 500 and Nasdaq 100 posted their best days since early August. A US semiconductor index saw a more than 4% surge on Monday following early success signs for Meta's AI agent, which reignited enthusiasm for the sector. Meta's stock soared 11%, Advanced Micro Devices Inc. surpassed the $1 trillion market value mark, while the Nasdaq 100 jumped 2.8%.

Brent oil prices remained stable around $100 a barrel, recovering from a 3.4% dip on Monday as Middle East supply concerns eased and traders monitored potential progress in ending the US-Iran war. Analyst Kyle Rodda attributed the rally to Meta's newly released AI chatbot, which has garnered strong demand, rekindling optimism about the AI trade's growth prospects.

Investors are also preparing for the upcoming summit between US President Donald Trump and Chinese President Xi Jinping, discussing AI, trade, and investment. US Treasury Secretary Scott Bessent deemed weekend meetings with China's top trade negotiator Li Chenggang "very successful." With increasing geopolitical uncertainty worldwide, maintaining relations between the world's two dominant economies has become crucial.

Middle East developments remained a focus, with traders monitoring Saudi Arabia's oil shipments from the Persian Gulf, which increased over the weekend. Satellite data revealed Saudi Arabia observed the highest number of ships at its main Persian Gulf port since June. US President Trump mentioned a possible meeting with Iranian counterpart Masoud Pezeshkian during the UN General Assembly in New York.

The administration also proposed investing $5 billion in a fund to aid Middle Eastern countries in rebuilding infrastructure damaged during the Iran war. Federal Reserve Bank of Chicago President Austan Goolsbee cautioned that the central bank cannot overlook persistent supply shocks, which may necessitate action despite potential economic hardship.