BEIJING (dpa-AFX) - Asian stocks ended mixed on Monday as upbeat Chinese data and investor enthusiasm around artificial intelligence offset concerns over stalled U.S.-Iran negotiations and Hormuz risks.
Regional losses, if any, were limited after reports emerged that Iran has made a proposal to the United States regarding the reopening of the Strait of Hormuz, a key oil shipping chokepoint.
The U.S. dollar index wobbled in Asian trade while gold was a tad higher at $4,713 an ounce ahead of a busy week for central bank meetings, with Jerome Powell holding his last press conference as Federal Reserve Chair on Wednesday.
Brent crude futures climbed nearly 3 percent to above $108 a barrel, extending last week's rally after U.S. President Trump instructed negotiators to suspend discussions, and Iran said it would not engage in 'imposed negotiations under threats or blockade.'
China's Shanghai Composite index edged up by 0.16 percent to 4,086.34 after data showed profits at China's industrial firms grew at their quickest pace in half a year last month.
Hong Kong's Hang Seng index ended down 0.20 percent at 25,925.65 after a choppy session as investors braced for upcoming Trump-Xi talks in mid-May.
Japanese markets surged to a record high, led by gains in semiconductor and artificial intelligence-related stocks after Intel beat its earnings estimate.
The Nikkei average jumped 1.38 percent to 60,537.36, closing above 60,000 for the first time ever. The broader Topix index settled half a percent higher at 3,735.28.
Factory automation provider Keyence and industrial robot maker Fanuc both soared around 16 percent after posting better-than-expected earnings.
Seoul stocks scaled a new peak, led by chip-related and power equipment stocks. The Kospi average closed up 2.15 percent at 6,615.03 on increased optimism over corporate earnings, following recent strong earnings from Samsung Electronics and SK Hynix.
Australian markets ended slightly lower, with utilities and energy stocks pacing the decliners.
The benchmark S&P/ASX 200 slipped 0.23 percent to 8,766.40, extending losses for a fifth consecutive session. The broader All Ordinaries index closed 0.17 percent lower at 8,990.80.
Origin Energy shares plummeted 5 percent after the company posted lower LNG production and revenue in the March quarter and downgraded earning guidance for its renewable-energy startup Octopus Energy.
U.S. stocks ended mixed on Friday amid easing geopolitical tensions and Intel's blowout earnings report.
Sentiment was buoyed after Iranian Foreign Minister Abbas Araghchi said he was heading to Pakistan to focus on bilaterial matters and regional developments.
CNN reported that U.S. Special Envoy Steve Witkoff and Trump's son-in-law Jared Kushner will likely represent the U.S. and that Vice President JD Vance will step in if needed.
The tech-heavy Nasdaq Composite surged 1.6 percent and the S&P 500 added 0.8 percent to reach new record closing highs as Treasury yields eased on bets that the Federal Reserve could resume its cuts to interest rates later this year. The narrower Dow eased 0.2 percent, dragged down by Marck and Verizon.
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