{"id":788417,"date":"2026-05-11T09:20:17","date_gmt":"2026-05-11T09:20:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/788417\/"},"modified":"2026-05-11T09:20:17","modified_gmt":"2026-05-11T09:20:17","slug":"oil-jumps-3-and-asian-shares-are-mixed-after-wall-street-set-records","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/788417\/","title":{"rendered":"Oil jumps 3% and Asian shares are mixed after Wall Street set records"},"content":{"rendered":"

HONG KONG (AP) \u2014 Asian stocks were mixed Monday after Wall Street set more records, and oil surged more than 3% following U.S. President Donald Trump\u2019s rejection of Tehran\u2019s response to the latest U.S. proposal on ending the war in Iran<\/a>.<\/p>\n

U.S. futures edged 0.1% lower.<\/p>\n

Tokyo\u2019s Nikkei 225 fell 0.5% to 62,417.88 after briefing reaching another record high in intraday trading at above 63,300. Technology-focused investment holding company SoftBank Group, one of Japan\u2019s largest stocks, fell more than 6%.<\/p>\n

South Korea\u2019s Kospi gained 4.3% to 7,822.24. It also hit an all-time intraday high, led by gains from tech-related stocks including Samsung Electronics and memory chip maker SK Hynix.<\/p>\n

Technology-related stocks and growing artificial intelligence-related interest have supported markets in Japan and South Korea despite the Iran war, with the Nikkei 225 and Kospi rising more than 10% and 30%, respectively, over the past month.<\/p>\n

Hong Kong\u2019s Hang Seng edged up less than 0.1% to 26,401.76. The Shanghai Composite index climbed 1.1% to 4,225.02, following official data Monday that showed China\u2019s factory gate prices rose 2.8% in April from a year ago, the highest since 2022, as well as better-than-expected export figures<\/a> released over the weekend.<\/p>\n

Australia\u2019s S&P\/ASX 200 lost 0.5%. Taiwan\u2019s Taiex traded 0.5% higher, and India\u2019s Sensex fell 1.3%.<\/p>\n

Oil prices jumped early Monday over Iran war uncertainties, after Trump wrote<\/a> in a social media post that Iran\u2019s response on Sunday to the U.S.\u2019s latest proposal was \u201cTOTALLY UNACCEPTABLE!\u201d<\/p>\n

Brent crude, the international standard, gained 3.6% to $104.89 per barrel. It was roughly $70 per barrel before the war began in late February. Benchmark U.S. crude was 3.9% higher at $99.15 a barrel.<\/p>\n

With the Strait of Hormuz<\/a>, a crucial waterway for global oil and gas transport, still largely closed and as the U.S. is continuing its sea blockade<\/a> of Iranian ports, analysts believe oil prices are likely to remain higher for longer.<\/p>\n

The Iran war was also set to be<\/a> part of the discussion agenda when Trump meets with Chinese leader Xi Jinping later this week. China has close economic links with Iran and the U.S. has been pressing<\/a> Beijing to leverage its influence to help reopen the Strait of Hormuz.<\/p>\n

\u201cThere remains a glimmer of hope that talks between Trump and Chinese President Xi later this week could yield positive results on Iran,\u201d ING commodities analysts Warren Patterson and Ewa Manthey wrote in a note on Monday.<\/p>\n

\u201cThe hope is that China can use its influence over Iran to push it closer towards a peace deal,\u201d they said. \u201cClearly, this is easier said than done.\u201d The oil market is still very much \u201cheavily headline-driven,\u201d the pair added.<\/p>\n

On Friday, Wall Street rose to new records<\/a> with the benchmark S&P 500 adding 0.8% to 7,398.93 and reaching its latest all-time high, fueled by market optimism after a solid report<\/a> on the U.S. job market which was better than what analysts had expected despite Iran war shocks.<\/p>\n

The Dow Jones Industrial Average edged up less than 0.1% to 49,609.16, while the technology-heavy Nasdaq composite climbed 1.7% to its own record at 26,247.08.<\/p>\n

In other dealings, the U.S. dollar climbed to 157.06 Japanese yen from 156.61 yen. The euro was trading at $1.1769, down from $1.1780.<\/p>\n

___<\/p>\n

AP Business Writers Stan Choe and Matt Ott contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"HONG KONG (AP) \u2014 Asian stocks were mixed Monday after Wall Street set more records, and oil surged…\n","protected":false},"author":3,"featured_media":788418,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3881,13214,64,74,13212,69,8309,280857,439,57,83,6087,53197,755,15243,5503,158,2053,25680,67,132,68,280858,107,11762],"class_list":{"0":"post-788417","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ap-top-news","9":"tag-asia-pacific","10":"tag-business","11":"tag-china","12":"tag-china-government","13":"tag-donald-trump","14":"tag-energy-markets","15":"tag-ewa-manthey","16":"tag-financial-markets","17":"tag-general-news","18":"tag-iran","19":"tag-iran-war","20":"tag-oil-and-gas-industry","21":"tag-softbank-group-corp","22":"tag-south-korea","23":"tag-strait-of-hormuz","24":"tag-technology","25":"tag-tehran","26":"tag-transportation-and-shipping","27":"tag-united-states","28":"tag-unitedstates","29":"tag-us","30":"tag-warren-patterson","31":"tag-world-news","32":"tag-xi-jinping"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116555207687772299","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/788417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=788417"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/788417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/788418"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=788417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=788417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=788417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}