Asia-Pacific markets advanced on Monday, as investors digested ongoing geopolitical tensions between Israel and Iran and awaited key economic data releases from China.
The broader market tone remained cautious after fresh attacks on Israel and Iran over the weekend, sparking renewed volatility across asset classes. Oil prices soared and gold rallied as investors shift towards safe-haven assets amid sliding global equities.
At 11:15 am AEST (1:15 am GMT), Australia’s S&P/ASX 200 was up 0.3%, Japan’s Nikkei 225 climbed 0.9%, and South Korea’s Kospi 200 added 0.3%.
Market focus remains fixed on China, with retail sales and industrial production data for May scheduled for release. These figures are expected to offer further insight into the strength of China’s economic recovery and may set the tone for regional trade throughout the week.
Geopolitical tensions also weighed heavily on global equities during Friday’s U.S. session. The Dow Jones Industrial Average fell 1.8%, the S&P 500 declined 1.1%, and the Nasdaq Composite slid 1.3%.
The rise in oil and gold prices reflected investor unease over the Middle East crisis. Brent crude surged 7% to US$74.23 a barrel, marking its highest level in four months. Spot gold climbed 1.4% to US$3,432.84 per ounce, as the metal’s traditional role as a safe-haven asset drew renewed interest.
Chinese equities finished lower. The Shanghai Composite declined 0.8% to 3,377.0, while the CSI 300 fell 0.7% to 3,864.2.
Hong Kong’s Hang Seng Index lost 0.6% to 23,892.6, and India’s BSE Sensex dropped 0.7% to 81,118.6.
European markets also moved lower. The UK’s FTSE 100 slipped 0.4% to 8,850.6, Germany’s DAX dropped 1.1% to 23,516.2, and France’s CAC 40 dropped 1% to 7,684.7.
