Asian markets rally on AI, South Korea peaks, Nintendo slides
Asian markets kicked off the week strong, thanks to major excitement around artificial intelligence and semiconductors.
MSCI's Asian equities gage rose 1%, with South Korea's AI-heavy market hitting a record high after jumping 5%.
On the flip side, Nintendo shares dropped 9% after a gloomy earnings outlook.
Still, rising oil prices and Middle East tensions kept inflation concerns in the spotlight.
Semiconductor index peaks, Brent nears $105
The Philadelphia Semiconductor Index hit a new peak as investors doubled down on AI profits.
Meanwhile, Brent crude oil surged over 3% to nearly $105 a barrel with the Strait of Hormuz still closed, fueling fears about supply shortages and higher global prices.
Geopolitical risks grew after President Trump called Iran's response to a US proposal to end the war "TOTALLY UNACCEPTABLE," keeping markets on edge.