Asia-Pacific markets open higher as investors assess renewed Middle East hostilities

Asia-Pacific markets open broadly higher on Monday, after they closed mostly in the green from the last trading session on Friday.

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Asia-Pacific markets open broadly higher Monday, with renewed focus on Middle East where tensions do not seem to be subsiding as U.S. and Iran engage in tit-for-tat strikes.

Japan’s Nikkei 225 added nearly 1%, while the Topix rose 0.55%. The Kospi advanced 3.09% at open, while the small-cap Kosdaq gained 1.33%. Australia’s benchmark S&P/ASX 200 was flat.

Middle East turmoil persisted, following news that the U.S. struck three Iranian oil tankers after saying warships were targeted with ballistic missiles. U.S. Secretary of Energy Chris Wright said that the Iran nuclear deal may not happen anytime soon.

“There may not be a nuclear agreement. It may be simply destroying their capabilities to do it,” Wright said on ABC News’ “This Week.” “An agreement may await the next administration in Iran. We simply don’t know that.”

Preventing Iran from acquiring a nuclear weapon has repeatedly been cited by President Donald Trump as a key objective of the U.S. campaign. At the same time, Trump has continued to pursue a diplomatic agreement with Tehran during the war, which has driven energy prices sharply higher around the world.

Wright’s remarks indicate that the administration could seek to eliminate Iran’s ability to develop a nuclear weapon even without securing a formal agreement with Tehran.

U.S. stock markets will be closed on Monday due to a holiday.

48 Min Ago

Kospi jumps over 3% as Asia-Pacific markets open higher

Asia-Pacific markets traded broadly higher early Monday.

Japan’s Nikkei 225 added nearly 1%, while the Topix rose 0.55%.

The Kospi advanced 3.09% at open, while the small-cap Kosdaq gained 1.33%.

Australia’s benchmark S&P/ASX 200 was flat.

—Justina Lee

1 Hour Ago

Asia-Pacific markets set to open broadly higher

Asia-Pacific markets were set to open broadly higher on Monday.

Japan’s Nikkei 225 was poised to rise, with the Chicago futures contract and its Osaka counterpart last trading at 66,085 and 65,830 each, compared with the index’s previous close of 65,020.94.

Hong Kong Hang Seng index futures were at 25,667, compared with the index’s last close of 25,650.87.

Futures for Australia’s S&P/ASX 200 last traded at 9,002, while the index closed at 9,005.90.

U.S. stock markets will be closed on Monday due to a holiday.

Middle East turmoil persisted, following news that the U.S. struck three Iranian oil tankers after saying warships were targeted with ballistic missiles. U.S. Secretary of Energy Chris Wright said that the Iran nuclear deal may not happen anytime soon.

—Justina Lee

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