Asia-Pacific markets rose Monday, as investors appeared to look past tensions in the Middle East with U.S. and Iran engaging in tit-for-tat strikes.
Japan's Nikkei 225 added nearly 2%, while the Topix rose 0.33%. The Kospi advanced 3.65%, while the small-cap Kosdaq gained 1.08%. Australia's benchmark S&P/ASX 200 was flat. Hong Kong's Hang Seng index was down nearly 1%, while mainland China's CSI 300 inched 0.19% higher.
Middle East turmoil persisted, following news that the U.S. struck three Iranian oil tankers after saying warships were targeted with ballistic missiles. U.S. Secretary of Energy Chris Wright said that the Iran nuclear deal may not happen anytime soon.
"There may not be a nuclear agreement. It may be simply destroying their capabilities to do it," Wright said on ABC News' "This Week." "An agreement may await the next administration in Iran. We simply don't know that."
Preventing Iran from acquiring a nuclear weapon has repeatedly been cited by President Donald Trump as a key objective of the U.S. campaign. At the same time, Trump has continued to pursue a diplomatic agreement with Tehran during the war, which has driven energy prices sharply higher around the world.
Wright's remarks indicate that the administration could seek to eliminate Iran's ability to develop a nuclear weapon even without securing a formal agreement with Tehran.
U.S. stock markets will be closed on Monday due to a holiday.
12 Min AgoGerman borrowing costs slightly higher after regional victory for far-right AfD
German government bond yields were fractionally higher Monday morning, though remained in-line with other European markets, after exit polls showed the far-right Alternative for Germany (AfD) in first place in state elections in Saxony-Anhalt.
It is still unclear whether the party will have an absolute majority in state parliament.
The yield on the 10-year bund, sensitive to political developments, was 1 basis point higher at 3.348%. Yields on 30-year bunds were 1 basis point higher at 3.825%.
The 2-year yield rose more than 3 basis points, to 2.967%. Investors are gearing up for Thursday's European Central Bank meeting, at which a quarter-percentage-point interest rate hike is seen as a near certainty.
— Jenni Reid
1 Hour AgoEuropean stocks head for lackluster open
European stocks are heading for a weaker open, according to IG futures data, with markets in the U.K., France, Germany and Italy all set for slight losses.
The regional Stoxx 600 index fell 0.81% last week to kick off September trading — historically a bad month for equities.
— Jenni Reid
2 Hours AgoOil prices rise as U.S. signals Iran nuclear deal may remain elusive
Oil prices rose Monday as renewed tensions in the Middle East stoked concerns that the conflict could drag on, threatening energy supplies.
International benchmark Brent crude futures for November delivery was up 0.88% at $97.13 a barrel U.S. West Texas Intermediate crude futures for October delivery rose 0.92% to $92.32 a barrel.
U.S. Energy Secretary Chris Wright on Sunday said the U.S. might not reach a deal to constrain Iran from obtaining a nuclear weapon, as the Washington-Tehran conflict extends into a seventh month.
"There may not be a nuclear agreement. It may be simply destroying their capabilities to do it," Wright said on ABC News' "This Week." "An agreement may await the next administration in Iran. We simply don't know that."
Trump has repeatedly said preventing Iran from obtaining a nuclear weapon is a central objective of the U.S. campaign.
—Lee Ying Shan
4 Hours AgoLG Electronics jumps 8% on subsidiary Bear Robotics reported pre-IPO, humanoid robot push
Shares of LG Electronics jumped more than 8% Monday, as local media outlet Hankyung reported the company was looking at pre-IPO fundraising for its robotics subsidiary Bear Robotics.
LG Electronics reportedly holds a 56.9% stake in U.S.-based Bear Robotics.
Bear Robotics has tapped Bank of America to lead a pre-IPO funding round ahead of a planned Nasdaq listing, Hankyung reported, citing investment banking sources.
The company is reportedly seeking to raise up to 400 billion won ($297 million) at a valuation of around 2 trillion won.
Separately, an LG Electronics executive said the company was in talks with several global tech firms over potential orders for actuators, a key component in humanoid robots.
—Jenny Lee
5 Hours AgoMainland China and Hong Kong markets open mixed
Mainland China and Hong Kong shares were mixed, amid broad gains in other Asian markets.
Hong Kong's Hang Seng index was down 0.15%, while mainland China's CSI 300 was 0.44% higher.
The declines in Hang Seng were led by academic and educational services and energy, down 1.13% and 0.73%, respectively.
—Justina Lee
7 Hours AgoKospi jumps over 3% as Asia-Pacific markets open higher
Asia-Pacific markets traded broadly higher early Monday.
Japan's Nikkei 225 added nearly 1%, while the Topix rose 0.55%.
The Kospi advanced 3.09% at open, while the small-cap Kosdaq gained 1.33%.
Australia's benchmark S&P/ASX 200 was flat.
—Justina Lee
7 Hours AgoAsia-Pacific markets set to open broadly higher
Asia-Pacific markets were set to open broadly higher on Monday.
Japan's Nikkei 225 was poised to rise, with the Chicago futures contract and its Osaka counterpart last trading at 66,085 and 65,830 each, compared with the index's previous close of 65,020.94.
Hong Kong Hang Seng index futures were at 25,667, compared with the index's last close of 25,650.87.
Futures for Australia's S&P/ASX 200 last traded at 9,002, while the index closed at 9,005.90.
U.S. stock markets will be closed on Monday due to a holiday.
Middle East turmoil persisted, following news that the U.S. struck three Iranian oil tankers after saying warships were targeted with ballistic missiles. U.S. Secretary of Energy Chris Wright said that the Iran nuclear deal may not happen anytime soon.
—Justina Lee
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