Asia-Pacific markets were mixed on Monday amid escalating tensions in the Middle East with Israel and Hezbollah trading strikes, while investors assessed dovish comments from U.S. Federal Reserve Chairman Jerome Powell.
The Nikkei 225 index erased 254.05 points, or 0.7%, to 38,110.22. The Japanese yen strengthened 0.42% to trade at 143.5, its strongest level since the Aug. 5 stock selloff.
In Hong Kong, the Hang Seng index surged 186.63 points, or 1.1%, to 17,798.23.
Over the weekend, Reuters reported Israel’s Air Force struck Hezbollah targets in Lebanon, shortly before the Iran-backed armed group launched over 320 rockets toward Israel.
Hezbollah said this was in retaliation for Israel’s assassination of Fuad Shukr, a senior commander, last month. However, the group signaled it was not preparing for more strikes, while Israel’s foreign minister said the country did not want a full-scale war, Reuters added.
Singapore’s manufacturing output surprised economists, climbing 10.1% month on month in July, a sharp reversal from the revised 4.3% decline in June and beating expectations of a 5.3% increase.
On a year-on-year basis, Singapore’s manufacturing output climbed 1.8%, beating expectations of a 1.1% decline.
In other markets
In Shanghai, the CSI 300 slipped 2.97 points, or 0.1%, to 3,324.22.
In Taiwan, the Taiex index jumped 82.07 points, or 0.4%, to 22,240.12.
In Singapore, the Straits Times Index inched ahead 8.04 points, or 0.2%, to 3,396.03.
In Korea, the Kospi index let go of 3.68 points, or 0.1%, to 2,698.01.
In New Zealand, the NZX 50 gained 59.84 points, or 0.5%, to 12,589.83.
In Australia, the ASX 200 leaped 60.6 points, or 0.8%, to 8,084.52.
