Asian markets closed mixed on Monday, following positive weekend news regarding U.S.-North Korea relations. Investors also digested the extended slide in oil prices after top producers indicated output could increase.
The Nikkei 225 ended Monday up 30.3 points, or 0.1%, to 22,418.09, with the oil sub-index falling 4.1% amid weakness in oil prices. Against the yen, the U.S. dollar fetched 109.42.
In Hong Kong, the Hang Seng gained 204.22 points, or 0.7%, to 30,722.26
Korean markets added muscle, as weekend developments gave rise to optimism that a U.S.-North Korea meeting in June could take place despite being canceled last week.
Gains in the benchmark came as steelmakers and other manufacturing names advanced: Posco added 2.3% and Hyundai Steel jumped 14.5%.
Large cap technology names, however, finished lower.
Australian indices, however, moved lower, as declines in energy and materials weighed on the broader index. Woodside Petroleum dropped 3.5%, and Beach Energy tumbled 9.6%
Investors also digested geopolitical developments over the weekend, including a meeting between the U.S. and North Korean delegations on Sunday.
The talks on Sunday followed a Saturday meeting between South Korean President Moon Jae-in and North Korean leader Kim Jong Un. That, in turn, came after U.S. President Donald Trump said he canceled a planned meeting with Kim in June last Thursday, although the White House later said it was still making preparations "should the summit take place.
In other markets,
The CSI 300 took on 16.76 points, or 0.4%, to 3,833.26
The Straits Times Index in Singapore edged up 5.25 points, or 0.2%, to 3,518.48
Korea’s Kospi index moved forward 18.16 points, or 0.7%, to 2,478.96
The Taiex index in Taiwan gained 45.47 points, or 0.4%, to 10,987.77
New Zealand’s NZX 50 eked up 6.8 points, or 0.1%, 8,645.20
In Australia, the ASX 200 dipped 28.8 points, or 0.5%, to 6,004.20
