Asian markets traded mixed in early deals on Monday, driven by a fragile US-Iran ceasefire that pushed oil prices higher alongside aggressive Federal Reserve interest rate projections. While the weekend military flare-ups initially dented market risk appetite, but Washington and Tehran agreeing to halt immediate hostilities and return to diplomatic talks helped contain steep market slides. South Korea’s KOSPI plunged driven by a 2,000 trillion won AI and semiconductor spending plan. Samsung and SK hynix's $1.3 trillion artificial intelligence (AI) investment strategy sparked a 3% index sell-off, reflecting investor anxiety that massive upfront capital commitments will suppress near-term earnings.
Nikkei declined by 624.88 points or 0.90% to 68,736.00, KOSPI Index plunged by 185.60 points or 2.21% to 8,225.61, Jakarta Composite narrowed by 52.75 points or 0.89% to 5,843.38, and FTSE Bursa Malaysia KLCI index dipped by 4.74 points or 0.28% to 1,663.00.
On the flip side, Hang Seng soared by 448.14 points or 1.94% to 23,120.00, Straits Times lifted by 7.05 points 0.14% to 5,198.78, Taiwan weighted added by 429.24 points or 0.96% to 45,001.00, and Shanghai Composite jumped by 6.82 points or 0.17% to 4,034.08.
