SSE 50 Index rose more than 2% intraday.

Gold fell in Asian trade after Capital Economics analyst Kieran Tompkins said deteriorating risk appetite for AI-related assets has spilled into commodities, with gold among last week’s worst performers. Tompkins said the metal, traditionally a safe haven, is increasingly behaving like a risk asset; extreme speculative activity in Q4 drove large volatility and gold also underperformed during the U.S.-Iran conflict. He expects further pressure on gold as speculative fervor cools and equities weaken, noting gold’s correlation with the S&P 500 is at about a 14-year high.

U.S. equity index futures opened modestly lower on Monday; Nasdaq futures down 0.2%.