hong kong — Stock markets in Japan and South Korea hit new highs on Monday amid enthusiasm over the artificial intelligence boom and as investors await a decision on… Iran war Extending the ceasefire.
Oil prices rose by more than 2% as negotiations continued between the United States and Iran, including the reopening of oil Strait of HormuzIt is a major waterway for the transit of oil and natural gas globally.
US futures rose.
Asian stocks mostly advanced, with benchmark indices in Japan and South Korea hitting records during intraday trading, led by technology-related stocks, as investors continued to see… Growth in artificial intelligence And other advanced technologies.
The Nikkei 225 index in Tokyo rose more than 1.3% and exceeded 67,000 points for the first time, reaching 67,231.28 points. shares Softbank Groupan investment firm that focuses heavily on artificial intelligence, rose more than 9% after hitting record numbers last week.
In South Korea, the KOSPI jumped nearly 5% and reached an all-time high of 8,874.16. Samsung Electronics, its largest company, rose by more than 9%. South Korea’s exports rose 53% year-on-year in May, boosted by global demand for semiconductors, official data showed on Monday.
The Nikkei 225 is up more than 12% over the past month, while the Kospi is up more than 27% over the same period.
The Hang Seng Index in Hong Kong rose 0.9% to 25,408.96 points. The Shanghai Composite Index fell 0.1% to 4,063.72, following China Reported over the weekend Factory activity declined in May with signs of slowing demand for new exports.
Australia S&The P/ASX 200 index lost 0.1% to 8,720.30 points.
Taiwan’s Taiex rose 1.4%, while India’s Sensex added 0.6%.
Three months after the start of the war with Iran, doubts remain about reaching a permanent end to the war Drive market movements and keep oil prices in fluxalthough optimism about strong demand for artificial intelligence and solid corporate earnings has sent the stock market including Wall Street higher.
Friday, US President Donald Trump He met with advisors in high-level talks But it has not yet taken a decision on a preliminary plan to extend the ceasefire in the Iran war By 60 daysWhile Iran said that the agreement had not been reached final. The reopening of the Strait of Hormuz is still in limbo. The strait has been largely closed and the United States has imposed sanctions Naval blockade of Iranian ports.
Brent crude, the international standard, rose 2.4% early Monday to $93.33 a barrel. The price was around $70 a barrel in late February, before the war began.
Standard US crude rose 2.8 percent to $89.76 a barrel.
On Friday, Wall Street stocks I reached more records Backed by large technology stocks, with the ticker S&The P 500 index added 0.2% for its seventh straight gain to 7,580.06.
The Dow Jones Industrial Average rose 0.7% to 51,032.46 points, while the Nasdaq Composite Index, dominated by technology stocks, rose 0.2% to 26,972.62 points.
Dell Technologies shares rose 32.8% after stronger than expected results and after it raised its expectations for strong demand related to artificial intelligence. Microsoft stock rose more than 5.4%, while Broadcom stock rose 4.7%.
In other trading, the US dollar rose to 159.48 Japanese yen from 159.25 yen. The euro was trading at $1.1645, down from $1.1667.
___
AP Business Writers Damian J. Troyes and Alex Vega.