Asian equities climbed to a fresh record as technology shares rallied and the election of a pro-stimulus leader in Japan added momentum to the region’s gains.
The MSCI Asia Pacific Index advanced 0.3% to a new peak with chips and technology stocks leading the gains after Advanced Micro Devices Inc.’s blockbuster deal with OpenAI.
Gold rose 0.4% to set another record as political crises around the world lifted demand for the haven asset.
European and US equity-index futures were flat. Japanese shares extended their rally after Sanae Takaichi’s near-certain ascent to become Japan’s next prime minister had sent the yen sliding and drove up yields on long-tenor bonds.
Japanese bond futures pared their losses after an auction of 30-year government bonds drew firm demand.
While equities worldwide have surged to successive record highs, worries over the US government shutdown and a political crisis in France have driven investors toward alternative assets such as gold and Bitcoin, sending both to new peaks.
At the same time, a flurry of AI-related deals among chipmakers has propelled shares higher and fueled some concerns of a speculative bubble reminiscent of the late-1990s dot-com era.
