Asia Tech Stocks Rise as Oil Prices Drop

Asia's tech stocks climb on AI demand, while oil prices fall amid Saudi supply hopes.

September 21, 2026 One Min Read

POLICY WIRE — Sydney, Australia — Asian stock markets saw modest gains on Monday as growing demand for artificial intelligence data fueled a rise in technology shares, while oil prices declined due to optimism about potential supply increases from Saudi Arabia.

The rally in tech stocks followed a similar surge in U.S. information technology firms earlier in the week. In Hong Kong, the Hang Seng Index opened higher, supported by weaker oil prices and strong performance in both technology and real estate sectors.

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Meanwhile, oil prices rose after a series of incidents involving U.S. and Iranian vessels in the Strait of Hormuz. In China, Alibaba Group Holding Ltd. saw its shares jump as much as 7.2% following announcements of increased investment in AI, alongside positive sentiment from Morgan Stanley and Huawei Technologies’ plans to challenge industry leader Nvidia Corp. in the AI chip market.

Reporting by Policy-Wire (PW)

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