Shanghai’s city skyline as seen from observation deck at Shanghai Tower in China.
Qilai Shen | Bloomberg | Getty Images
South Korea’s Kospi closed at an all-time high Monday as Asia-Pacific markets rose, with investors also weighing a possible U.S. intervention in Iran.
The Kospi index added 0.84% to 4,624.79, while the Kosdaq advanced 0.2% to 949.81.
Shares of Hyundai Glovis soared as much as 7% after analysts raised their price target for the South Korean logistics company.
Robot-maker Boston Dynamics, in which Hyundai Glovis owns an 80% stake, announced a partnership with Google DeepMind last Monday to integrate AI into humanoid robots.
Oil prices are in focus as Iran entered a third week of protests, which have seen more than 500 people killed, according to a U.S.-based rights group. President Donald Trump is reportedly weighing options for intervention in Iran, according to multiple reports Sunday.
Brent crude futures reversed course to fall to $63.05 per barrel, while the U.S. West Texas Intermediate crude declined 0.49% to $58.83 per barrel, as of 10 a.m. Singapore time (9 p.m. ET Sunday).
Spot gold prices rose more than 1.6% to hit all-time high of $4,581.29 per ounce.
Gold spot price
Australia’s S&P/ASX 200 added 0.48% to 8,759.4.
Hong Kong’s Hang Seng Index added 1.44% to close at 26,608.48, and mainland China’s CSI 300 climbed 0.65% to 4,789.92.
India’s Nifty 50 was up 0.25%, and the BSE Sensex index was flat as of 1:50 p.m. local time. Shares of Reliance Industries fell 1.38% after the Indian conglomerate halted plans to make lithium-ion battery cells domestically after failing to secure Chinese technology, Bloomberg reported, citing sources.
Japanese markets were closed for a holiday. On Sunday, Japanese Prime Minister Sanae Takaichi’s coalition partner, Hirofumi Yoshimura, said that she may call an early general election. His comments come after domestic media reported that Takaichi was considering a snap election in February, citing government sources.
The Japanese yen weakened sharply Monday, hitting a one-year low of 158.19 against the greenback.
U.S. equity futures declined after the Department of Justice opened a criminal investigation into Federal Reserve Chair Jerome Powell, an apparent escalation by Trump in his attempt to pressure the central bank.
On Friday stateside, the S&P 500 closed up 0.65% to 6,966.28, a fresh record close. It also notched a new all-time intraday high in the session.
The Nasdaq Composite gained 0.81% to 23,671.35. The Dow Jones Industrial Average added 237.96 points, or 0.48%, to end at 49,504.07, scoring a new closing record as well.
— CNBC’s John Melloy, Sean Conlon and Pia Singh contributed to this report.
Correction: This story has been updated to accurately reflect Brent crude futures prices.
