South Korean stocks rose Monday to hit a fresh record, following their strongest monthly gain in 28 years, as investors weighed the latest development around the Middle East conflict.
Markets in Japan and mainland China were closed for holiday.
In Hong Kong, the Hang Seng sprinted 319.35 points, or 1.2%, 26,095.88.
The U.S. would attempt to “free” stranded ships affected by the Strait of Hormuz closure since the start of the Iran war, U.S. President Trump said in his Truth Social post Sunday.
Dubbed “Project Freedom,” the effort is set to begin on Monday, Middle East time and will focus mainly on getting civilian ships flagged in countries not affiliated with the conflict out of the contested waterway so they can “freely and ably get on with their business.”
“U.S. military support to Project Freedom will include guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members,” the U.S. Central Command said shortly after Trump’s announcement.
The Kospi index ended Monday’s session 5.12% higher at 6,936.99. Samsung Electronics and SK Hynix both rose to record intraday highs, gaining 5.44% and 12.52% respectively, buoyed by positive sentiment following U.S. tech earnings.
In other markets
In Taiwan, the Taiex popped 1,778.51 points, or 4.6%, to 40,705.14.
In Korea, the Kospi index climbed 338.12, or 5.1%, to 6,936.99.
In Singapore, the Straits Times 50 index nosed up 11.62 points, or 0.2%, to 4,924.31.
In New Zealand, the NZX 50 gained 58.48 points, or 0.5%, to 13,097.68.
In Australia, the AZX 200 sagged 32.73 points, or 0.4%, to 8,697.11.
