Asian shares mostly advanced Monday, with technology stocks moving higher on the artificial intelligence boom, as investors monitored updates ahead of a Washington meeting between U.S.
Asian stock markets mostly trended upward on Monday, September 21, 2026, building momentum as financial players tracked preparations for an upcoming summit in Washington between U.S. President Donald Trump and Chinese leader Xi Jinping, according to reporting by the Associated Press. The two global figures are expected to tackle trade policies, artificial intelligence developments, and wider geopolitical friction during their discussions this week.
Bessent Reports Successful New York Bilateral Talks
U.S. futures ticked higher after Treasury Secretary Scott Bessent delivered an upbeat assessment of preliminary negotiations. Bessent told reporters that Washington and Beijing had a very successful engagement
following Sunday talks in New York with Chinese Vice Premier He Lifeng.
Those weekend discussions laid groundwork for the Trump-Xi meeting by touching directly on reciprocal tariff reductions concerning $30 billion worth of goods from each nation, alongside discussions regarding artificial intelligence. Beyond economics and technology, the upcoming presidential agenda will likely encompass regional security issues, including the war in Iran, Middle Eastern developments, and diplomatic ties between China and Iran.
Technology Shares and Regional Market Performance
Technology counters across Asia climbed on the artificial intelligence boom, even as U.S. tech leaders separately urged a slowdown in AI development due to safety concerns. South Korea’s Kospi jumped 1.8% to 7,018.98, fueled by a 5% surge in Samsung Electronics and a 1% gain for memory chipmaker SK Hynix.
Other regional markets posted modest gains. Taiwan’s Taiex rose 1.1%, driven by a 0.6% uptick in AI chipmaker Taiwan Semiconductor Manufacturing Co., or TSMC. Hong Kong’s Heng Seng advanced 0.6% to 24,891.58, and the Shanghai Composite index similarly climbed 0.6% to 3,933.37. India’s Sensex also rose 0.6%, while Australia’s S&P/ASX 200 held nearly unchanged at 8,730.40. Japan’s Nikkei 225 remained closed through Wednesday for a holiday.
Global Oil Supplies and Currency Movements
Global energy markets faced downward pressure early Monday as vessel traffic and energy flows picked up through the Strait of Hormuz. Despite the slight easing, the vital transit corridor remains largely closed, leaving ongoing uncertainties surrounding U.S.-Iran tensions. Additional supply concerns persist due to friction between Saudi Arabia and the Iran-backed Houthis, alongside Saudi Arabia’s closure of a key oil pipeline.
International benchmark Brent crude dropped 2.1% to $101.67 per barrel, remaining elevated compared to its roughly $72 price point in late February prior to the onset of the war in Iran. U.S. benchmark crude lost 2.2% to settle at $93.99 per barrel.
In currency trading, the U.S. dollar strengthened to 157.02 Japanese yen, up from 156.81 yen, while the euro softened to $1.1476 from $1.1483.
Wall Street and Central Bank Actions
U.S. equities finished mixed on Friday, with the benchmark S&P 500 adding 0.2% and the technology-heavy Nasdaq composite gaining 0.4%, while the Dow Jones Industrial Average edged down 0.2%. Bond markets also drew scrutiny as the yield on the U.S. 10-year Treasury hit 5%.
Elevated government bond yields reflect persistent inflationary pressures driven by the wartime energy shock and rising U.S. national debt. These shifts follow major monetary policy decisions last week, when the Federal Reserve raised interest rates for the first time in three years and the Bank of Japan lifted its rates to a 31-year high.
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