Asian Markets Edge Up Amid US‑Iran Diplomacy and Upcoming Jobs Data

Asian stocks closed mostly higher on Monday, even as investors trimmed gains in high‑performing semiconductor and artificial‑intelligence stocks amid concerns that interest rates could rise later this year.

The U.S. dollar is on course for its strongest monthly gain in almost a year, ahead of the crucial U.S. nonfarm payrolls report and the annual gathering of central bankers in Sintra, Portugal, later this week.

Gold slipped slightly, trading near $4,060 per ounce, as renewed uncertainty persisted over the fragile ceasefire between the United States and Iran.

Brent crude futures stayed above $72 a barrel in Asian trading, modestly recovering from four‑month lows after the United States and Iran agreed to halt attacks and convene in Doha on Tuesday to discuss disputes over the Strait of Hormuz.

China’s Shanghai Composite index rose 1.16 percent to 4,073.90, driven by gains in consumer and healthcare stocks.

Hong Kong’s Hang Seng index jumped 1.57 percent to 23,026.68 after reports indicated that Apple is lobbying the U.S. government for permission to source DRAM chips from Chinese memory maker CXMT.

Japanese markets reversed earlier declines to finish slightly higher, as chip‑related stocks erased losses and data showed May consumer spending in Japan exceeded expectations.

The Nikkei average edged up 0.15 percent to 69,468.11 after South Korea unveiled a $576 billion semiconductor and AI investment plan, backed by Samsung and SK Hynix, aimed at bolstering its global chip leadership. The broader Topix index rose 0.47 percent to 3,982.

SoftBank Group shares fell 5.3 percent on news of a possible delay to OpenAI’s initial public offering. Kioxia Holdings dropped more than 4 percent, Advantest slipped 1.5 percent, while Tokyo Electron rose 2.4 percent.

Seoul stocks edged slightly lower on technology‑sector losses, with the Kospi slipping 0.20 percent to 8,394.65 after briefly touching 8,127.99 earlier in the session.

Samsung Electronics fell 4.8 percent and SK Hynix declined 1.7 percent after the Financial Supervisory Service indefinitely postponed the launch of weekly options for blue‑chip stocks, citing extreme volatility.

Battery stocks rallied, with LG Energy Solution surging 20.8 percent and Samsung SDI climbing 12.5 percent.

Australian markets rose notably, driven by gains in banking, technology and resource stocks. The S&P/ASX 200 gained 0.68 percent to close at 8,823.40, while the broader All Ordinaries index ended 0.70 percent higher at 9,026.90.

Across the Tasman, New Zealand’s benchmark S&P/NZX‑50 index rose 0.37 percent to 13,545.56, reversing early losses.

U.S. stocks ended Friday off their intraday lows, as lower oil prices amid signs of improving shipping traffic through the Strait of Hormuz offset concerns about AI spending and rising memory and storage costs.

Investor sentiment was dampened by a decline in SpaceX’s valuation and reports that OpenAI, the creator of ChatGPT, may delay its highly anticipated IPO until next year.

The Dow and the S&P 500 both finished marginally lower, while the Nasdaq Composite slipped 0.2 percent amid shifting expectations about U.S. monetary policy.

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