Asia-Pacific markets traded mixed on Monday as investors assessed rising geopolitical risks in the Middle East and monitored the impact of continued United States-Iran tensions on global markets.
By 11:55 am AEST (1:55 am GMT), Australia's S&P/ASX 200 was trading flat, while Japan's Nikkei 225 remained closed for a public holiday. South Korea's KOSPI 200 fell 3.9%.
Among data releases, China's one-year loan prime rate (LPR), a key market-based lending benchmark, was held unchanged at 3.0% on Monday, while the over-five-year LPR, which influences mortgage pricing, also remained steady at 3.5%, according to the National Interbank Funding Center.
The moves followed a weaker finish on Wall Street on Friday, with major U.S. benchmarks closing lower. The Dow Jones Industrial Average declined 0.8%, the S&P 500 slipped 0.1%, and the Nasdaq Composite fell 1.4% as semiconductor stocks continued to weigh on investor sentiment.
Commodity markets reacted to heightened geopolitical uncertainty, with ICE Brent crude futures surging 4.6% on Friday to settle at US$88.10 per barrel. Spot gold also advanced 0.9%, closing at $4,013.30 per ounce.
Chinese equities also came under pressure on Friday. The SSE Composite Index dropped 3.1% to 3,764.2, while the CSI 300 declined 3.6% to 4,529.1. Hong Kong's Hang Seng Index fell 1.8% to 24,562.2.
Indian equities bucked the regional trend, with the BSE Sensex rising 1.3% to 78,151.5.
European markets ended mixed on Friday. The UK's FTSE 100 gained 0.3% to 10,600.4, while Germany's DAX declined 0.3% to 24,831.0 and France's CAC 40 dropped 0.5% to 8,338.8.
