Europe Asia News

Optimism about Alphabet’s position in the artificial intelligence race increased after the tech giant announced its upgraded AI model Gemini 3, with the stock closing 6.31% higher on Monday. Other AI-related stocks such as Broadcom and Micron Technology also rose following a broad rally that began Friday when the New York Fed President left the door open to a possible December rate cut.

Japan’s benchmark Nikkei 225 index climbed 1.14% in early trading, while the Topix index gained 0.7%.

AI-related stocks were among the top performers on the Nikkei 225. Semiconductor testing equipment supplier Advantest rose 4.8%, chip equipment maker Lasertec added 2.75%, and Tokyo Electron, which supplies core semiconductor manufacturing equipment to factories producing Nvidia chips, gained 2.39%.

South Korea’s Kospi index rose 2.39%, while the small-cap Kosdaq gained 1.7%. Index heavyweights SK Hynix and Samsung Electronics rose 5% and 4%, respectively. Australia’s S&P/ASX 200 Index erased early gains and traded flat.

Hong Kong’s Hang Seng index climbed 1%, while the Hang Seng Tech index rose 1.74%. Mainland China’s CSI 300 index gained 0.53%.

U.S. equity futures showed little change in early Asian trading.

In U.S. markets, the S&P 500 rose 1.55% to close at 6,705.12, while the Nasdaq Composite climbed 2.69% to 22,872.01. It was the best day for the tech-heavy index since May 12, when it gained 4.35%. The Dow Jones Industrial Average added 202.86 points, or 0.44%, finishing at 46,448.27.