Tech Firms Surge Amid Inflation Fears and Interest Rate Hopes

Technology stocks rallied on Monday, driven by gains in chipmakers in Seoul and Tokyo. The rally came despite a stronger-than-expected US jobs reading last Friday that increased expectations of an interest rate hike from the Federal Reserve.

Average diesel prices in the United States hit a new record on Monday due to damage to Gulf refineries during the war against Iran, further pushing up inflation expectations.

Investors are closely watching this week's US inflation data release on Friday, which could cement their expectations of an interest rate hike. The Fed's meeting later this month is also on their radar.