The Asia-Pacific markets surged on Monday after Wall Street gained the previous week, as a U.S job report indicated that the unemployment rate fell, which indicated resilience in the labor market.
According to a U.S.-based rights group, investors will also be monitoring the oil prices since Iran has entered the third week of demonstrations, which have so far claimed the lives of over 500 people. Multiple reports on Sunday stated that President Donald Trump is under consideration of interfering with Iran.
Brent crude futures traded down to $63.05 per barrel, while the U.S. West Texas Intermediate crude decreased 0.49 percent to $58.83 per barrel, as of 10 a.m. Singapore time (9 p.m. ET Sunday).
Therefore, the spot gold prices increased over 1.6 percent to reach an all-time high of $4,581.29 per ounce. Australia’s S&P/ASX 200 gained 0.38 percent.
Kospi of South Korea increased by 1.11 percent, and the small-cap Kosdaq grew by 0.96 percent. Hyundai Glovis shares climbed up to 8 percent following an increase in the price target of the South Korean-based logistics firm by analysts.
Robot-maker Boston Dynamics, in which Hyundai Glovis owns an 80 percent stake, has also declared a collaboration with Google DeepMind on Monday to incorporate AI into humanoid robots.
However, the Hang Seng Index of Hong Kong and the CSI 300 of mainland China started a little bit under the level of flatline. Japanese markets remained closed on a holiday.
Japanese Prime Minister Sanae Takaichi has a coalition partner, Hirofuki Yoshimura, who indicated on Sunday that she could call an early general election. His remarks follow the reports of domestic media that Takaichi was thinking of a snap election in February due to government sources.
The Japanese yen dropped significantly on Monday to a one-year low of 158.19 against the greenback. U.S. equity futures now stood level in early Asian markets, anticipating a burst of major economic data and earnings reports over the week.
The S&P 500 closed up 0.65 percent to 6,966.28, a new record close on Friday stateside. It has also recorded a new all-time intraday high within the session.
Thus, the Nasdaq Composite rose 0.81 percent to 23, 671.35. The Dow Jones Industrial Average was up 237.96 points or 0.48 percent to close at 49,504.07, also setting a new closing high.
