Asian shares rose after gains in US stocks on Friday bolstered bets on the possibility of a strong rally by the end of the year. The MSCI Asia-Pacific share index rose 1%, with the technology sector leading the gains. U.S. stock futures also rose in Asian trade. Gold and silver hit record highs, while oil also rose amid rising geopolitical tensions after US President Donald Trump tightened his siege on Venezuela. In Japan, bond yields rose to their highest levels in several years following a hike in interest rates last week, while the yen strengthened against the dollar after the country’s chief currency officer issued a warning about the recent moves. Hopes for a year-end rally in stocks grew, after plunging buyers late last week helped U.S. stocks recover from a slide fueled by doubts about enthusiasm for artificial intelligence and the limits of possible easing by the Federal Reserve. The S&P 500 index rose 0.9% for a second day in a row on Friday, erasing the week’s losses, with trading volumes rising during the expiration of quarterly options and futures contracts and with traders positioning themselves in anticipation of a rally that stretches into 2026. He added: “The biggest challenge remains the evaluations of artificial intelligence and the path of the market from now on.” Gold, silver and oil prices rose in spot deals, surpassing the previous high of more than $4,381 an ounce set in October, after posting gains over the past two weeks amid expectations of a further cut in interest rates by the Federal Reserve. Silver also rose to a record high, while platinum continued to rise for the eighth consecutive session. Brent crude rose to $61 a barrel after US forces boarded an oil tanker and pursued another near Venezuela, within weeks of the first seizure of a ship. Also read: Washington is tracking a third oil tanker as Trump tightens blockade of Venezuela. Japan is in focus and Asian markets continue to rise. Japanese markets remained under scrutiny after the central bank raised the benchmark interest rate to the highest level in 30 years on Friday. Bank of Japan Governor Kazuo Ueda chose to keep his options open instead of propping up the yen, settling for a cautious rate hike, sending the currency sliding to levels that had previously prompted intervention in the past. The yen rose on Monday after Atsushi Mimura, Japan’s chief currency official, said he was “very concerned” about what he described as “unidirectional and sudden movements”, especially after last week’s monetary policy meeting. “We would like to take appropriate responses to excessive movements,” Mimura told reporters. Meanwhile, the yield on Japanese 10-year bonds rose 7.5 basis points to 2.095%, a level not seen since February 1999. The yield on two-year bonds, which are more sensitive to monetary policy expectations, also rose to the highest level since 1997. Also read: Why is the bond rate market not responding to interest rates? Expectations that China will move toward easing monetary policy In a separate context, Chinese commercial banks kept key interest rates for one-year and five-year loans unchanged on Monday, with growing expectations that the People’s Bank of China will move toward easing monetary policy next year. Shares also rose in China amid the broad rally in Asia. Republican lawmakers on the House Committee on China asked the Defense Department over the weekend to include more than a dozen companies on the list of military companies. The rise in Asian shares on Monday came after the regional index lost 1.9% last week, ending a three-week streak of gains. A sub-index of regional technology stocks rose 2.1% in early trading, after the Philadelphia Stock Exchange’s index of semiconductor shares rose 3% on Friday. Also read: The artificial intelligence boom brings a flood of debt to a very safe market. On the data front, growth readings in the United Kingdom and the United States are scheduled to be released this week, in addition to the minutes of the Reserve Bank of Australia’s December monetary policy meeting, which could provide clues as to whether the bank may raise interest rates in February. In Japan, Tokyo inflation data is expected to be released alongside national jobs data, which could help traders gauge the Bank of Japan’s policy outlook.