South Korea’s Kospi reached a record closing high on Monday, reflecting a broader increase across Asia-Pacific markets, while investors considered the implications of a potential U.S. intervention in Iran. The Kospi index increased by 0.84%, reaching 4,624.79, whereas the Kosdaq saw a rise of 0.2%, settling at 949.81. Hyundai Glovis experienced a notable increase in its share price, rising by as much as 7%, following an upward revision of the price target by analysts for the South Korean logistics firm. Boston Dynamics, a robot manufacturer in which Hyundai Glovis holds an 80% stake, announced a partnership with Google DeepMind last Monday to incorporate artificial intelligence into humanoid robots.
Oil prices are under scrutiny as Iran continues to experience a third week of protests, resulting in over 500 fatalities, as reported by a U.S.-based rights organization. Reports indicate that President Donald Trump is considering various options for intervention in Iran, as noted in multiple sources on Sunday. Brent crude futures experienced a downturn, settling at $63.05 per barrel, while U.S. West Texas Intermediate crude saw a decrease of 0.49%, reaching $58.83 per barrel, as of 10 a.m. Singapore time. Spot gold prices increased by over 1.6%, reaching an unprecedented level of $4,581.29 per ounce.
Australia’s S&P/ASX 200 experienced an increase of 0.48%, reaching a level of 8,759.4. Hong Kong’s Hang Seng Index increased by 1.44%, closing at 26,608.48, while mainland China’s CSI 300 rose by 0.65% to reach 4,789.92. India’s Nifty 50 experienced an increase of 0.25%, while the BSE Sensex index remained unchanged as of 1:50 pm. Reliance Industries experienced a decline of 1.38% following the company’s decision to suspend its domestic production plans for lithium-ion battery cells, attributed to unsuccessful negotiations for Chinese technology, as reported. The Japanese markets observed a closure in observance of a holiday. On Sunday, Japanese Prime Minister Sanae Takaichi’s coalition partner, Hirofumi Yoshimura, indicated that she might consider calling an early general election. His remarks follow reports from domestic media indicating that Takaichi is contemplating a snap election in February, according to government sources.
The Japanese yen experienced a significant decline on Monday, reaching a one-year low of 158.19 against the US dollar. U.S. equity futures experienced a downturn following the announcement of a criminal investigation by the Department of Justice into Federal Reserve Chair Jerome Powell, signaling a notable intensification of pressure from Trump on the central bank. On Friday in the United States, the S&P 500 closed up 0.65% to 6,966.28, marking a new record close. The session also recorded a new all-time intraday high. The Nasdaq Composite experienced an increase of 0.81%, reaching a level of 23,671.35. The Dow Jones Industrial Average increased by 237.96 points, representing a 0.48% rise, concluding at 49,504.07, thereby achieving a new closing record.