Asia-Pacific markets traded mixed Monday as investors assess elevated oil prices and the latest developments in the escalating U.S.-Iran conflict.
U.S. crude prices topped $100 per barrel as the Trump administration weighs military strikes on Tehran’s Kharg Island, a strategically vital hub often referred to as Iran’s “oil lifeline.”
In Japan, the Nikkei 225 handed over 68.46 points, or 0.1%, to 53,751.51
In Hong Kong, the Hang Seng regained 368.42 points, or 1.5%, to 23,834.02.
u.s. President Donald Trump on Friday ordered strikes against Iranian military assets on Kharg Island and warned of further attacks on crude facilities located there. Mike Waltz, the U.S. ambassador to the United Nations, repeated the warning Sunday.
Goldman Sachs estimates that the surge in energy prices stemming from the war in Iran could shave about 0.3% off global GDP over the next year, while pushing headline inflation higher by roughly 0.5% to 0.6%.
Bitcoin gained over 3% to $73,844.20, while ether jumped 6% to $2,263.93. Bitcoin gained 5% last week, and is up roughly 10% since the Iran war started on Feb. 28.
CHINA
In Shanghai, the CSI 300 forged ahead 2.42 points, or 0.1%, to 4,671.56 as China’s consumption and production both beat expectations on holiday spending and strong foreign demand.
Retail sales for the first two months of the year rose 2.8% from a year earlier, beating economists’ forecast for a 2.5% growth, but a notable slowdown from the 4% growth in the January-February period in 2025.
Industrial output climbed 6.3%, also exceeding expectations for a 5% jump in a Reuters poll. Industrial production has been a relative bright spot in the world’s second-largest economy, thanks to resilient external demand, particularly from European and Southeast Asian nations.
In other markets
In Korea, the Kospi index gained 62.61 points, or 1.1%, to 5,549.85
In Singapore, the Straits Times Index took on 26.42 points, or 0.6%, to 4,868.69.
In Taiwan, the Taiex index fell back 57.81 points, or 0.2%, to 33,342.51.
In Australia, the ASX backtracked 33.71 points, or 0.2%, to 8,583.38.
In New Zealand, the NZX 50 settled 22.76 points, or 0.2%, to 13.164.58.
