CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from European markets and lack of cues from Wall Street overnight, on renewed uncertainty about the peace deal to end the Middle East war after US President Donald Trump threatened fresh strikes if Hezbollah continues its attacks on Israel, while Tehran announced the closure of the Strait of Hormuz again. Asian markets closed mixed on Friday.
Iran is said to have also suspended the negotiations in response to Trump's remarks, although reports suggest that the talks were still underway.
The Australian stock market is slightly higher on Monday after opening in the red, reversing some of the previous two sessions, despite the broadly negative cues from European markets and lack of cues from Wall Street overnight. The benchmark S&P/ASX 200 index is moving well above the 8,800.00 level, with gains in gold miners and financial stocks partially offset by weakness in iron ore miners, energy and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 11.70 points or 0.13 percent to 8,840.40, after hitting a low of 8,793.80 and a high of 8,851.80 earlier. The broader All Ordinaries Index is up 11.00 points or 0.12 percent to 9,058.30. Australian stocks closed significantly lower on Friday.
Among the major miners, BHP Group and Fortescue are losing almost 1 percent each, while Rio Tinto is edging down 0.5 percent and Mineral Resources is declining more than 3 percent.
Oil stocks are mostly lower. Beach energy and Woodside Energy are declining more than 1 percent each, while Santos is edging down 0.5 percent. Origin Energy is flat.
Among tech stocks, Afterpay owner Block is gaining almost 1 percent, while Appen is losing more than 2 percent, Zip is down almost 1 percent, Xero is edging down 0.2 percent and WiseTech Global is tumbling more than 12 percent on news that the Australian Federal Police is probing its executive chairman Richard White over claims he exploited a women's immigration status and financial insecurity.
Gold miners are mostly higher. Newmont and Northern Star Resources are gaining more than 1 percent each, while Evolution Mining and Resolute Mining are advancing almost 3 percent each. Genesis Minerals is adding more than 2 percent.
Among the big four banks, Commonwealth Bank is gaining almost 1 percent, while ANZ Banking and National Australia Bank are edging up 0.2 to 0.5 percent each. Westpac is edging down 0.1 percent.
In the currency market, the Aussie dollar is trading at $0.701 on Monday.
The Japanese stock market is trading sharply higher on Monday, extending the gains in the previous six sessions, despite the broadly negative cues from European markets and lack of cues from Wall Street overnight, with the Nikkei 225 moving above the 72,400 mark to fresh all-time highs, with gains in index heavyweights, financial and technology stocks partially offset by weakness in automaker stocks.
The benchmark Nikkei 225 Index closed the morning session at 72,648.47, up 1,398.41 points or 1.96 percent, after touching an all-time high of 72,747.83 earlier. Japanese shares ended modestly higher on Friday.
Market heavyweight SoftBank Group is gaining almost 2 percent and Uniqlo operator Fast Retailing is edging up 0.1 percent. Among automakers, Honda is edging down 0.4 percent and Toyota is also edging down 0.4 percent.
In the tech space, Advantest is gaining almost 1 percent, Screen Holdings is adding more than 3 percent and Tokyo Electron is advancing more than 1 percent.
In the banking sector, Sumitomo Mitsui Financial is gaining almost 2 percent, while Mitsubishi UFJ Financial and Mizuho Financial are adding almost 1 percent each.
The major exporters are mixed. Mitsubishi Electric is gaining almost 3 percent and Sony is adding more than 1 percent, while Panasonic and Canon are edging down 0.3 to 0.4 percent each.
Among the other major gainers, J. Front Retailing is soaring more than 15 percent, while Yaskawa Electric and Toto are jumping more than 9 percent each. Fanuc and Minebea Mitsumi are surging more than 8 percent each, while Toppan Holdings is rising almost 8 percent. Furukawa Electric and Mitsui Kinzoku are advancing almost 7 percent each. Murata Manufacturing and Resonac Holdings are gaining more than 5 percent each, while Tokuyama and Ibiden are adding almost 5 percent each. TDK and Renesas Electronics are up more than 4 percent each. Ebara is gaining almost 4 percent.
Conversely, JGC Holdings and Taiyo Yuden are declining more than 3 percent each, while Keio and Tokyo Electric Power are losing almost 3 percent each.
In the currency market, the U.S. dollar is trading in the lower 161 yen-range on Monday.
On Wall Street, the markets were closed on Friday for Juneteenth Day holiday.
Elsewhere in Asia, Hong Kong is up 1.3 percent, while New Zealand, China, Singapore, Malaysia and Indonesia are lower by between 0.1 and 0.4 percent each. Taiwan and South Korea are up 2.8 and 1.2 percent, respectively.
On Wall Street, the markets were closed on Friday for Juneteenth Day holiday.
The major European markets ended the day in the negative. The UK's FTSE 100 ended down 0.35 percent, Germany's DAX drifted down 0.16 percent and France's CAC 40 lost 0.55 percent.
Crude oil prices tumbled last week on reports that the Strait of Hormuz was re-opened, falling more than 10 percent from the previous week's close to below $80. But Iran closed the strait again over the weekend, likely prompting a rebound in crude prices this week.
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