Asian stocks surged on Monday, driven by a fresh rally in tech firms, while oil prices dipped as investors assessed the impact of the U.S. ouster of Venezuelan leader Nicolás Maduro. The removal of Maduro added to geopolitical risk, but traders remained focused on the ongoing artificial‑intelligence boom and the prospect of U.S. interest‑rate cuts. The first full week of business in 2026 will see the release of key jobs data, which could influence the Federal Reserve’s decision on borrowing costs, and investors are also awaiting an announcement in May on who will succeed Jerome Powell as the head of the central bank.
Asian markets with a strong tech presence led the gains. Tokyo’s Nikkei 225 rose 3% to 51,832.80, Seoul’s KOSPI gained over 3%, and Taipei’s market jumped 2.6% to a record high, propelled by a 5% surge in chip titan TSMC’s stock. Shanghai, Singapore and Hong Kong also posted significant advances. European markets, including London, Paris and Frankfurt, opened on a positive note, suggesting that investors are brushing off concerns about tech‑sector valuations and warnings about the timing and size of returns on massive AI investments.
Stephen Innes of SPI Asset Management noted that the move marks the strongest start to a year for Asian equities since 2012, following a global market that delivered its best annual return since 2017. By contrast, Kyle Rodda of Capital.com cautioned that valuations remain high, equity allocations are elevated, and cash holdings are low.
Commodity prices showed mixed signals. Gold rose more than 1% to around $4,400 per ounce, while West Texas Intermediate crude fell 0.9% to $56.83 a barrel as investors evaluated the outlook after the U.S. attack on Venezuela. Venezuela holds the world’s largest proven oil reserves, but production has declined sharply in recent years due to under‑investment and sanctions. The U.S. plans to “run” Venezuela and send U.S. companies to repair its oil infrastructure, but analysts warn that substantially lifting output will be difficult, costly, and time‑consuming, requiring massive investment to address crumbling facilities.
Key figures around 0800 GMT included the Tokyo Nikkei 225 up 3% at 51,832.80, the Hong Kong Hang Seng flat at 26,347.24, and the London FTSE 100 up 0.2% at 9,971.50. The euro/dollar slipped to $1.1689. The significance of these market movements will continue to unfold as investors await further developments in the U.S.–Venezuela situation and the release of crucial economic data.
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