Asian Stocks and Oil Prices Surge Amid Global Market Volatility

Asian stocks followed Wall Street's gains on Monday, with Japan's Nikkei 225 leading advances. The index jumped 2.1% to 66,970.22, driven by strong tech company performances. Tokyo Electron rose 4.1%, while Advantest climbed 6.4%. In contrast, South Korea's Kospi added a modest 0.7% to 6,299.66, as major chipmakers like Samsung Electronics and SK Hynix slipped. Hong Kong's Hang Seng gained 0.9% to 25,904.94, while the Shanghai Composite index picked up 0.7% to 3,966.59.

Oil prices surged after Israel rejected a deal announced by US President Donald Trump for Gaza, deepening fears over threats to strategic shipping routes and a potential return to civil war in Yemen. Brent crude rose 0.6% to $84.01 per barrel, while the U.S. benchmark advanced 0.3% to $78.46 per barrel.

Analysts attributed the market movements to foreign investors selling shares in major tech companies to lock in profits and rebalance their holdings. They also noted that a weaker jobs market raised hopes the Federal Reserve might wait longer before raising interest rates to fight inflation, buoying share prices.