Japan and South Korea hit fresh record highs on Monday as investors continued to bet on the artificial intelligence boom, while uncertainty over the Iran war ceasefire and the Strait of Hormuz kept oil prices elevated. U.S. futures also edged higher as Wall Street’s tech-driven rally continued.
In Asia, the Nikkei 225 and South Korea’s Kospi both climbed to all-time highs in intraday trading, led by technology stocks. SoftBank jumped more than 9%, while Samsung Electronics rose more than 9% after South Korea reported a 53% year-on-year surge in May exports, powered by semiconductor demand. Hong Kong advanced, while Shanghai slipped slightly after Chinese factory activity softened.
Oil prices rose more than 2%, with Brent crude up to $93.33 a barrel and U.S. crude at $89.76, as talks continued over a possible 60-day ceasefire extension and the reopening of the Strait of Hormuz. On Wall Street, major indexes also notched records on Friday, helped by strong gains in tech shares such as Dell, Microsoft, and Broadcom.