Japanese stocks and the yen fell amid a brewing political crisis in the country, even as renewed optimism over US-China trade talks lifted sentiment across global equities.<\/p>\n
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The Nikkei 225 index dropped 0.8% as traders reacted to the collapse of the nation\u2019s ruling coalition and the US-China spat after a three-day weekend. Contracts for Hong Kong were flat while Australian shares edged lower.<\/p>\n
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Silver prices touched an all-time high above $52.50 and gold set a new peak, building on eight straight weeks of gains. Samsung Electronics Co. rose after posting its biggest profit since 2022.<\/p>\n
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The S&P 500 closed 1.6% higher Monday, its best showing since May, clawing back some of Friday\u2019s slump when fresh tensions between Washington and Beijing spooked investors. The gains signaled investors\u2019 willingness to buy the dip as a resilient economy and Federal Reserve easing overshadowed concerns about a bubble in AI stocks. That optimism faces an early test this week, with a wave of earnings from major US banks marking the unofficial start of third-quarter results on Tuesday.<\/p>\n
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\u201cInvestors remain eager for exposure, and if this recovery holds, it will reinforce the idea that retail investors can\u2019t be easily shaken and another reminder that buying the dip continues to work,\u201d said Mark Hackett at Nationwide.<\/p>\n
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The artificial intelligence theme continued to dominate markets as Broadcom Inc. soared about 10% as OpenAI agreed to buy its custom chips and networking equipment.<\/p>\n
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Shares of companies discussing alliances with Nvidia Corp. on Monday jumped, with Vertiv Holdings co. closing at an all-time high and Navitas Semiconductor Corp. adding 31% after the bell following a 21% climb during the regular session. The Nasdaq 100 rose 2.2% Monday and a key gauge of chipmakers surged nearly 5%.<\/p>\n
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US-listed rare earth and critical mineral stocks jumped Monday, following strong gains among Asian peers, as fresh tensions between Beijing and Washington over China\u2019s exports fueled bets on alternative suppliers.<\/p>\n
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Cryptocurrencies stabilized, recovering from the selloff on Friday. While the crash was brief and prices have since partially recovered, critics point to underlying issues in the crypto market\u2019s structure that make it prone to violent selloffs.<\/p>\n
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Meanwhile, US Treasury Secretary Scott Bessent said he still expects Presidents Donald Trump and Xi Jinping will meet.<\/p>\n
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However, he warned that all options are open for retaliating against China\u2019s move to tighten exports of rare earths. China\u2019s Ministry of Commerce had urged further negotiations to resolve outstanding issues.<\/p>\n
<\/p>\n
The focus in Asia is on Japan following the collapse of the nation\u2019s ruling coalition.<\/p>\n
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