Precise Investors Editorial Team
Nikkei 225 rose as much as 1.6 per cent to a record high of 60,652.98 points, while KOSPI climbed 2.3 per cent to 6,630.35 points – a new record high
Most Asian stock markets rose on Monday, with Japan and South Korea hitting record highs, although broader gains were capped by surging oil prices and stalled Iran-U.S. negotiations.
KOSPI climbed 2.3 per cent to 6,630.35 points – a new record high. SK Hynix shares surged more than 6 per cent to a new all-time high, while Samsung Electronics stock gained 2.5 per cent.
The KOSPI index jumped almost 5 per cent last week, driven by robust semiconductor earnings and AI-linked advancements from SK Hynix.
Nikkei 225 rose as much as 1.6 per cent to a record high of 60,652.98 points, while the broader TOPIX index added 0.7 per cent.
Investor focus is on the Bank of Japan, which will conclude its two-day meeting on Tuesday with its rate decision and quarterly outlook report.
The BOJ is widely expected to keep its short-term policy rate unchanged at 0.75 per cent, adopting a cautious stance as policymakers assess the economic fallout from surging oil prices and Middle East tensions.
Markets are instead looking for forward guidance, with expectations that the central bank could signal a potential rate hike as early as June or July, as inflationary pressures persist.
Shanghai Composite and Hang Seng index traded flat.
Straits Times Index dropped 0.5 per cent, while S&P/ASX 200 edged down 0.2 per cent.
Futures for Nifty 50 ticked up 0.1 per cent.
Equities also drew support from a strong U.S. lead, where the Nasdaq and S&P 500 closed at new highs, lifting sentiment toward chipmakers and AI-linked stocks across Asia.
U.S. stock index futures were little changed in Asian trading on Monday.
Comments (0)
Average Rating: No ratings yet/5 (0 reviews)
No comments yet. Be the first to comment!