Stocks opened the new year with artificial intelligence and chipmaking once again dominating market moves. Precious metals — another hot corner of the market in 2025 — also advanced.
Asian shares climbed 0.9%, with internet and chip stocks advancing and a regional technology gauge rising to a record.
Samsung Electronics Co. touched an all-time high. Baidu Inc. gained 7.5% after its chip unit filed for an IPO, while AI chip designer Shanghai Biren Technology Co. doubled on its Hong Kong trading debut. Equity-index futures for the Nasdaq 100 Index gained 0.7%, while contracts indicated a weaker open for Europe.
Commodities were in focus, with spot gold rising 1.3% and silver jumping 2.5%, building on their best annual performances since 1979. Copper also advanced. Despite a recent pullback, global stocks in 2025 posted their strongest year since 2019, supported by expectations of stronger earnings and optimism around AI.
Even so, uncertainty over the outlook for US monetary policy and elevated valuations among technology companies remain key risks. “AI is a major trading idea for Asian investors on the first trading day of 2026, and probably for the year too,” said Vey-Sern Ling, managing director at Union Bancaire Privee.
Companies such as Taiwan Semiconductor Manufacturing Co. and Samsung are like “picks and shovels” for the AI industry “with high earnings visibility for the year given the capex plans of US hyperscalers.”
