Oil prices extended gains as Middle East peace talks stuttered, though stocks mostly rose on the back of continued demand for all things linked to artificial intelligence, AFP reports.

Uncertainty about a peace deal pushed oil prices up more than one per cent, with both main contracts up around five percent this week. However, stocks extended their breathtaking rally, fuelled by the tech sector and AI demand.

Tokyo climbed more than two percent, helped by a more than 11 percent surge in chipmaker Tokyo Electron, while Advantest also jumped.

Taipei was up a similar amount thanks to Taiwan Semiconductor Manufacturing Company’s strong advance.

Shanghai, Sydney, Singapore and Manila were also up, though Hong Kong, Wellington and Jakarta retreated. Seoul was closed for a holiday.