Asian stocks climbed to a record as investors doubled down on the artificial intelligence trade that’s powered global equities to all-time highs. Oil climbed as a US-Iran ceasefire deal remained elusive.

MSCI’s regional equities gauge rose 1%, with gauges in South Korean and Taiwan — bellwethers for AI investments — also touching record highs. Samsung Electronics Co.’s shares surged 6.6%. Sentiment was further buoyed by a 0.4% gain in Nasdaq 100 futures after Wall Street benchmarks closed at records on Friday.