## Key Drivers **1. Wall Street's sharp Friday rally** US stocks ended sharply higher on Friday, led by [stock Microsoft]'s record-breaking near US\$450 billion single-day gain in market value after strong earnings. [stock Amazon] also beat cloud sales growth estimates, soothing AI investment jitters. This positive overnight tone is carrying into Asian markets today. **2. Chip & tech surge returns to Singapore** After last week's brutal selloff that saw [stock Frencken] drop 8.9% and UMSIntegration fall 8.5%, AI trade confidence is returning. AEM Holdings and UMS are leading a chip and tech rebound in Singapore as the market digests the earlier rout. [citation 1] **3. Easing Middle East geopolitical tensions** Trump signaled he will hold off on fresh Iran attacks in hopes of reac