South Korea's benchmark Kospi index soared to an unprecedented record high on Monday, demonstrating robust performance even as other Asia-Pacific markets experienced mixed trading. Investors closely monitored the lingering uncertainties surrounding U.S.-Iran negotiations, particularly after President Donald Trump indicated he was "in no hurry" to secure a deal to resolve the prolonged conflict.
The Kospi surged by an impressive 1.31%, with the nation's tech giant, Samsung Electronics, leading the charge as its shares climbed over 3% to reach an all-time high. In contrast, the small-cap Kosdaq index saw a decline of 1.58%.
Across the region, market sentiments were varied. Japan's Nikkei 225 edged up 0.17%, while the broader Topix index fell 0.3%. In Australia, the S&P/ASX 200 registered a 0.21% loss.
A notable move in Japan saw SoftBank Group shares rise by 5%. This came after the conglomerate announced on Sunday its ambitious plans to inject 45 billion euros ($53 billion) over the next five years into developing artificial intelligence infrastructure within France.
Meanwhile, the Hang Seng index in Hong Kong posted a gain of 0.73%, contrasting with mainland China's CSI 300, which slipped 0.32%.
The geopolitical backdrop remained a key focus. President Trump, in an interview with Lara Trump on Fox News Saturday, reiterated that an agreement to end the conflict with Iran had not yet been finalized. He emphasized his commitment to a deal that would prevent Iran from ever acquiring nuclear weapons, stating his preference for a swift resolution but stressing he would not rush negotiations. Trump cautioned that military action could resume if talks falter.
"I'd like to say I'm in a hurry because gasoline prices are going to come tumbling down, but if you're going to be in a hurry, you're not going to make a good deal," Trump stated. "And slowly but surely we're getting, I think, what we want, and if we don't get what we want we're going to end it a different way."
Providing a strong lead-in from the previous week, Wall Street's major U.S. equities closed at record highs last Friday, buoyed by strong performances in the technology sector and despite a slight slip in crude prices. The Nasdaq Composite settled up 0.2% at 26,972.62, the S&P 500 climbed 0.22% to 7,580.06, and the Dow Jones Industrial Average finished up 363.49 points, or 0.72%, at 51,032.46. All three indexes had also hit fresh all-time intraday highs earlier in the day.
— Contributions by Sarah Min and Lisa Kailah Han.
