Asian stocks climbed higher on Monday, led by companies focused on artificial intelligence, despite escalating concerns over Middle East stability. Oil prices jumped after President Donald Trump rejected Iran's response to a US peace proposal as unacceptable. The developments come amid a 10-week-old conflict between the two nations.
Traders appeared to set aside immediate risks from the region, betting instead on strong corporate earnings fueled by AI investments. Oil prices increased as hopes faded for a quick resolution that might reopen safe passage through the Strait of Hormuz. A Qatari liquefied natural gas tanker was reported sailing toward the waterway, which has seen recent clashes but remained calm in the latest updates.