Asian markets traded mostly higher in early deals on Monday, on account of risk appetite in the market amidst progress in US-Iran peace negotiations and a sharp drop in crude oil prices. Senior US officials remarked over the weekend that Washington and Tehran are nearing an agreement to reopen the Strait of Hormuz and restore global oil flows. Rally in technology and artificial intelligence-related shares further lifted the Asian indices. Japan’s Nikkei soared to fresh record highs with the artificial intelligence boom continuing to buoy the semiconductor supply chain. Stock market of South Korea and Hong Kong are closed for Vesak Day and The Birthday of the Buddha, respectively.
Nikkei surge by 1,998.93 points or 3.16% to 65,338.00, Straits Times up by 22.39 points 0.44% to 5,090.54, Taiwan weighted lifted by 1,327.75 points or 3.14% to 43,595.72, Jakarta Composite rebounded by 60.10 points or 0.98% to 6,222.15, and Shanghai Composite climbed by 33.33 points or 0.81% to 4,146.23.
On the flip side, FTSE Bursa Malaysia KLCI index down by 2.16 points or 0.13% to 1,710.51.
