Nearly two months into the conflict in Iran, global stock markets are staging a defiant rally. From the US to Taiwan and South Korea, a disconnect has emerged: while the geopolitical tensions remain high, equities are charging back toward all-time highs.

Mining stocks in Asia and Europe climbed with metals prices as investors rotated into hard assets, driven by a weakening dollar and growing unease over currencies, geopolitics and global fiscal risks.

Intel Corp. and Samsung Electronics Co. have shed a total of $227 billion in market value this year on their lack of leadership in artificial intelligence.

Snap up more Japanese stocks, ratchet up shorts on government debt and keep buying the yen: these are some of the most popular calls from big-name money managers ahead of a central bank meeting that may end the world’s last experiment with negative interest rates.

Analysts are rushing to raise target prices on Japanese trading companies as Warren Buffett’s increased holdings drive their shares to record highs.

Asian equities are likely to extend their gains as the year progresses, boosted by the region’s relatively better growth prospects and a broadening economic recovery in China.