Asian Markets Rise on Tech, Oil Prices Ease Amid Hopes of Saudi Supply Boost

Asian share markets edged higher on Monday as AI's insatiable demand for data buoyed chipmakers. However, oil prices eased due to hopes that Saudi Arabia could boost supplies after a Houthi attack on Riyadh.

The trade was thin in Japan, which is on its Silver Week holiday until Wednesday, leaving the dollar steady at 157 yen. Investors are wary of potential intervention by the Bank of Japan in support of its currency.

Japan's Nikkei index was closed but futures rose 0.5 per cent. South Korea's tech-heavy index gained 1.1 per cent. The MSCI's broadest index of Asia-Pacific shares outside Japan also rose 0.3 per cent.