South Korea's Kospi surged 4.61% and Japan's Nikkei 225 closed 2.12% higher as Asia-Pacific stock markets rallied Monday, while Europe's Stoxx 600 dipped as investors weighed renewed U.S.-Iran hostilities. Oil prices rose amid the renewed tensions, and U.S. markets stayed shut for a holiday.
South Korea's Kospi jumped 4.61% to 6,995.39 as tech heavyweights led the advance. Samsung and SK Hynix, Kospi heavyweights, rose 5.68% and 8.26%, respectively.
Asia-Pacific markets rally on tech strength
Japan's Nikkei 225 closed 2.12% higher, with SoftBank advancing 11.22% and Advantest adding 4.20%. Australia's S&P/ASX 200 rose marginally to 9,010.90. Mainland China's CSI 300 gained 0.59%, while Hong Kong's Hang Seng index fell 0.93% to 25,413.12.
Europe opens the week mixed
Europe's Stoxx 600 benchmark dipped almost 0.1% in morning trade. Germany's DAX led losses, sliding 0.14%, while the U.K.'s FTSE 100 was broadly flat. France's CAC 40 added 0.1%, and Italy's FTSE MIB gained the same amount.
Investor attention centered on the U.S.-Iran war after the U.S. struck three Iranian oil tankers over the weekend, and Centcom said Tehran had targeted its warships with ballistic missiles. U.S. Secretary of Energy Chris Wright said Sunday a nuclear agreement with Iran may not happen soon. Wright said on ABC News' "This Week": "There may not be a nuclear agreement."
Oil climbs on supply worries
Brent crude futures for November delivery rose 0.88% to $97.13 a barrel, while U.S. West Texas Intermediate crude for October delivery gained 0.92% to $92.32 a barrel. U.S. stock markets stayed closed Monday for a holiday, leaving Asia and Europe to set the tone for the session.
Source: CNBC
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