Asian stocks traded mixed Monday, with several key markets closed for holidays, with investors monitoring developments in the Middle East conflict.
Japan’s Nikkei 225 regained 290.19 points, or 0.6%, 53,431.68,
Markets in Hong Kong, Taiwan, Australia and New Zealand were all closed for holiday.
President Donald Trump on Sunday issued a fresh round of threats to attack Iran’s power plants and civilian infrastructure starting Tuesday, if Tehran failed to fully reopen the Strait of Hormuz, a key oil chokepoint where about one-fifth of the world’s oil supplies flow through, before the regional war broke out on Feb. 28.
In an expletive-laden social media post, Trump vowed to bring “Hell” to Iran after U.S. forces rescued an American airman in Iran last week. He later posted about a “Tuesday 8 P.M. Eastern Time” deadline without elaborating. The White House on Sunday told MS NOW that the date is the new deadline for Iran to reach a deal with the U.S.
Trump said he will hold a press conference “with the Military” at the Oval Office at 1 p.m. on Monday.
Iran has, however, rejected Trump’s ultimatum to reopen the Strait of Hormuz, saying that the critical waterway would only reopen fully after damage from the war is compensated. Tehran has continued strikes on economic and infrastructure targets in the neighboring Gulf region, including Kuwait’s oil headquarters.
Eight members of the Organization of the Petroleum Exporting Countries and allies raised their production quotas on Sunday by 206,000 barrels per day for May, though the move appeared largely symbolic as the war has constrained shipments from several members.
In other markets
The CSI 300 index in mainland China lost 38.13, or 0.9% to 4,440.79.
South Korea’s Kospi dropped 73.03 points, or 1.4%, to 5,450.33
In Singapore, the Straits Times Index gained 24.9 points, or 0.5%, to 5,450.33.
