Asian technology stocks led gains at the start of the week, with the Nikkei up about 2% and South Korea’s Kospi around 3% higher at 6,900. Goldman Sachs has maintained a bullish forecast for the Kospi to reach 12,000, implying a further 75% rise. Oil prices also advanced as tensions around the Strait of Hormuz intensified, with Brent at $96.85 a barrel and U.S. crude at $92.10. Higher fuel costs are adding to pressure ahead of Friday’s August U.S. CPI report, where core inflation above 0.2% would increase pressure on the Federal Reserve to raise rates this month. The European Central Bank (ECB) is considered certain to raise rates to 2.50% on Thursday, while investors will focus on guidance about further tightening. European political risk is also in focus after the far-right Alternative for Germany took first place in Saxony-Anhalt’s state election, without securing a majority.