Nikkei, Kospi, Hang Seng, Sensex, CSI 300
South Korea’s Kospi opened at a new record on Monday, leading Asia-Pacific markets higher amid rising oil prices and escalating tensions between the United States and Iran.
Investor sentiment remained cautious after President Donald Trump rejected Tehran’s latest offer to end the war.
Iran has presented a new proposal to US negotiators focused on ending the Middle East conflict. Iran’s semi-official Tasnim news agency, citing a knowledgeable source, said the counteroffer called for an end to the war on all fronts and the lifting of sanctions against Tehran.
However, Trump said: I don’t like it Iran’s response was “TOTALLY UNACCEPTABLE!” It was described as. In a Truth Social Post.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu said on Sunday that the war with Iran is “not over”, stating that the US and Israel still aim to restrain Tehran’s nuclear ambitions.
Netanyahu’s comments come ahead of Trump’s trip to China this week, where he is expected to meet with Chinese President Xi Jinping. The war and the subsequent closure of the Strait of Hormuz by Iran increased global energy costs and sharply increased gas prices in the United States.
June West Texas Intermediate futures are trading at $98.65 per barrel, up 3.39% as of 8:06 PM ET. Brent crude oil futures for July rose 3.37% to $104.66 per barrel.
South Korea’s Kospi index opened at a new record at 3.67%, while the small-cap Kosdaq was slightly higher. Index heavyweight SK Hynix rose 9.61% on Friday, following higher U.S. stocks.
Japan’s Nikkei 225 gained 0.81%, while the Topix gained 0.32%. Nintendo shares fell 6.63% as investors digested news that the game developer would raise Switch 2 prices as it anticipates a decline in console sales.
Australia’s S&P/ASX 200 index fell 0.71%.
Hong Kong Hang Seng index futures settled at 26,250, below the index’s last close of 26,393.71.
Futures tied to the Dow Jones Industrial Average fell 143 points, or 0.3%. S&P 500 and Nasdaq 100 futures also lost 0.3 percent.
Sunday’s moves come after the S&P 500 and Nasdaq Composite rose more than 2% and 4%, respectively, last week. Both indexes recorded their sixth consecutive winning weeks, the first since 2024.
The Dow rose 0.2% for the week, marking its fifth weekly gain in the last six weeks.
— CNBC’s Alex Harring and Garrett Downs contributed to this report.
