China's Shanghai Composite index rallies 1.41%

Asian stocks surged on Monday as technology stocks recovered from last week's rout on AI-linked jitters and Japanese Prime Minister Sanae Takaichi's coalition swept to a historic election win on Sunday, clearing the way for more spending and tax cuts.

A weaker dollar lifted precious metals, with gold surging above $5,000 an ounce ahead of key U.S. jobs data due this week, including reports on jobs, inflation and consumer spending.

Oil prices fell more than 1 percent despite escalating tensions between Tehran and Washington, with U.S. President Donald Trump calling for a regime change in the nation and Iran stating that it is not scared by the military deployment near the region.

 

China's Shanghai Composite index rallied 1.41 percent to 4,123.09 ahead of January inflation and producer price data due later in the week. Hong Kong's Hang Seng index jumped 1.76 percent to 27,027.16, with financials and tech giants leading the surge.

Shares of Chinese chip designer Montage Technology soared more than 50 percent in their Hong Kong trading debut following an initial share sale.

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