Asian stocks hit record highs amid tech rally

Monday 05 January 2026 - 09:20

By: Dakir Madiha

Asian stocks hit record highs amid tech rally

Asian stock markets soared to historic peaks on Monday, driven by a robust surge in technology shares as investors shrugged off geopolitical shocks from the U.S. capture of Venezuelan President Nicolás Maduro over the weekend. Gold prices spiked sharply while oil traded in a narrow range early in the session. The rally extended last year's artificial intelligence boom, with the MSCI Asia-Pacific index climbing as much as 1.7 percent to a fresh all-time high.

South Korea's Kospi index jumped 3.43 percent to close at 4,457.52 points, crossing the 4,400 mark for the first time. Japan's Nikkei 225 rose 2.97 percent near its record, and Taiwan's benchmark index gained 2.57 percent to surpass 30,000 points. Tech giants led the charge: Samsung Electronics surged 7.47 percent, Taiwan Semiconductor Manufacturing leaped over 5 percent after Goldman Sachs raised its price target by 35 percent, and SK Hynix advanced 2.81 percent. U.S. stock futures edged higher, with S&P 500 contracts up 0.1 percent.

Geopolitical uncertainty boosted safe-haven assets, pushing gold up 2.1 percent to above $4,420 per ounce and silver nearly 5 percent. Investors sought refuge following the U.S. military operation that detained Maduro and transferred him stateside, despite gold's 4.4 percent weekly drop its steepest since November 2024. President Donald Trump stated Saturday that American oil firms would invest billions to rebuild Venezuela's dilapidated petroleum infrastructure, though analysts caution substantial output increases could take years. "Any production recovery would require massive investments given the failing infrastructure from years of mismanagement and underinvestment," UBS analyst Giovanni Staunovo told AFP.

Oil markets showed little reaction despite Venezuela focus. West Texas Intermediate rose 0.5 percent to $57.61 a barrel, and Brent crude gained 0.5 percent to $61.08. Venezuela's daily output of about 800,000 barrels represents under 1 percent of global supply, muting short-term effects. OPEC+ decided Sunday to hold first-quarter production steady. Capital Economics chief economist Neil Shearing noted the U.S. removal of Maduro unlikely to deliver major short-term global economic impacts, though political and geopolitical ripples will endure.