South Korea’s Kospi hit a fresh record Tuesday as trading resumed after a public holiday, with investor sentiment supported by hopes for a breakthrough in the U.S.-Iran peace talks.
President Donald Trump said Monday negotiations with Iran were “proceeding nicely,” though he warned that the U.S. could resume attacks if the talks failed.
Oil prices were mixed after Trump’s comments. International benchmark Brent futures for July rose 2.78% to $98.81 per barrel, while West Texas Intermediate futures for July fell 4.42% to $92.33 per barrel as of 3:30 a.m. ET, compared with Friday’s close. There was no WTI price settlement Monday due to the U.S. Memorial Day holiday, Reuters reported.
Signaling the precarious nature of the Washington-Tehran engagement, the U.S. Central Command conducted “self-defense strikes” targeting Iranian missile launch sites and boats attempting to lay mines in the south of the Islamic Republic.
Meanwhile, Tehran appears to be “blinking” over the Strait of Hormuz, ex-CIA Director David Petraeus told CNBC’s Lisa Kim at the UBS Asian Investment Conference on Monday.
South Korea’s Kospi was 2.55% higher at 8,047.51, after rising to a record high of 8,131.15 in intraday trade. The small-cap Kosdaq pared gains, ending 0.98% higher.
Japan’s Nikkei 225 ended Tuesday’s session 0.25% lower at 64,996.09 amid some profit taking, while the Topix was marginally lower at 3,938.46. The Nikkei 225 breached 65,000 for the first time Monday in holiday-thinned Asia trading. The Bank of Japan’s Deputy Governor Ryozo Himino said the timing of a rate hike is still being considered, as the central bank continues to monitor developments in the Middle East, according to Reuters.
Australia’s S&P/ASX 200 fell 0.39% at 8,657.80.
China’s CSI 300 gained 0.53% at 4,947.85, while Hong Kong’s Hang Seng was flat in choppy trade following a public holiday on Monday.
India’s Nifty 50 slipped 0.23%, while the BSE Sensex declined 0.28%.
S&P 500 futures gained 0.78%, and Nasdaq-100 futures advanced 1.14%. Dow Jones Industrial Average futures popped 371 points, or 0.73%.
U.S. stock markets were closed Monday due to the Memorial Day holiday.
— CNBC’s Fred Imbert and Lim Hui Jie contributed to this report.
By CNBC