Asian Stocks Rise With Tech Leading

Shares in Asia and European equity futures climbed after another record high on Wall Street, fueled by technology shares.

Taiwan Semiconductor Manufacturing Co. and SoftBank Group Corp. were two of the biggest contributors to the benchmark’s advance. I Photo: Taiwan Semiconductor Manufacturing Corporation

Oil prices dropped as concerns eased about Israel attacking Iranian energy facilities, Aya Wagatsuma reported for Bloomberg News.

MSCI’s Asia Pacific Index rose as much as 0.7%, led by gains in the chip sector. Taiwan Semiconductor Manufacturing Co. and SoftBank Group Corp. were two of the biggest contributors to the benchmark’s advance.

Japan’s Nikkei 225 Stock Average Index climbed back up, reaching its highest levels since July.

Benchmarks in Australia and Taiwan also advanced. Oil prices dropped after the Washington Post reported that Israel does not plan to strike Iranian oil or nuclear facilities. Shares in China and Hong Kong slid, with investors watching for further stimulus from the Chinese government.

Equity benchmarks in the country had risen on Monday, even though a highly anticipated Finance Ministry briefing over the weekend lacked specific new incentives to boost consumption in the world’s largest crude importer.

China may raise 6 trillion yuan ($846 billion) through ultra-long special government bonds over three years as part of its efforts to boost the sputtering economy, Chinese media outlet Caixin reported.