Asian equities rose for the first time in four days, led by chipmakers, as investors looked to megacap earnings this week for clues on whether the AI-driven rally can be sustained. The MSCI Asia Pacific Index climbed 1.7%, with benchmark gauges in South Korea and Taiwan both gaining more than 2.5%. Elevated oil prices and escalating Middle East tensions are giving investors another reason for caution, adding to the rotation out of chipmakers' stocks after this year's blistering rally. Treasuries held their losses from Monday, while gold climbed 0.5% to trade around US$4,025 an ounce. UK gilts declined Monday after Burnham unnerved investors over his approach to the country's finances.