Asia-Pacific markets started the week on a mixed footing, with Japan and South Korea extending record highs while Australian equities slipped, as investors weighed ongoing uncertainty surrounding United States-Iran negotiations.
President Donald Trump said the United States and Iran have still not reached a final agreement to end the conflict, adding in an interview with Lara Trump on Fox News that he is in no hurry to finalise a deal.
He reiterated that any agreement must ensure Iran never acquires a nuclear weapon.
By 11:25 am AEST (1:25 am GMT), Australia’s S&P/ASX 200 fell 0.4%, South Korea’s KOSPI surged 3.2% to a fresh record high, while Japan’s Nikkei 225 rose 1.3% to its own record peak.
SoftBank Group was a standout mover, jumping 8.3% to a record high after announcing plans on Sunday to invest €45 billion (US$52.4 billion) over five years in artificial intelligence infrastructure in France as part of a broader €75 billion programme.
In South Korea, stronger-than-expected trade data reinforced bullish sentiment. Exports rose 53.2% year-on-year in May to a record US$87.75 billion, marking the 12th consecutive month of growth and the strongest annual increase since January 1984.
The result was driven by surging semiconductor shipments amid global AI-related demand.
Imports rose 20.8% to $60.80 billion, slightly below expectations, while the trade surplus widened to a record $26.95 billion from $23.76 billion previously.
The export strength reinforced South Korea’s position as a key bellwether for global trade and the ongoing artificial intelligence investment cycle.
On Wall Street, major U.S. benchmarks closed at record highs on Friday, with the Dow Jones Industrial Average gaining 0.7%, the S&P 500 adding 0.2%, and the Nasdaq Composite rising 0.2%.
Commodities were weaker on Friday, with ICE Brent crude falling 1.7% to US$91.12 a barrel, its lowest level since 17 April.
Spot gold, meanwhile, rose 1.1% to US$4,543.42 per ounce.
In China, equities finished lower, with the Shanghai Composite down 0.7% to 4,068.6 and the CSI 300 off 0.5% to 4,892.1.
Hong Kong’s Hang Seng Index rose 0.7% to 25,182.4, while India’s BSE Sensex declined 1.4% to 74,775.7.
European markets closed mixed on Friday. The UK’s FTSE 100 slipped 0.2% to 10,409.3, Germany’s DAX edged up 0.1% to 25,104.7, and France’s CAC 40 eased 0.1% to 8,183.3.
