<div id="readability-page-1"><img width="680" height="375" src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/Asian.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/Asian.webp"/>Asian markets opened the week on a defensive note on Monday, with investors tracking a sharp rebound in oil prices and the latest escalation in US-Iran tensions.President Donald Trump’s rejection of Tehran’s latest peace proposal kept geopolitics front and center, while worries over the Strait of Hormuz reinforced the market’s caution.In the early session, West Texas Intermediate June futures were up 3.94% at $99.18 a barrel and Brent July futures rose 3.49% to $104.83,The move underscored how quickly energy prices have become the day’s dominant market driver.<h2>Oil shock sets the tone</h2>The oil move gave the Asian open a distinctly risk-off feel.Traders were not only reacting to the price action itself, but also to what it signaled for inflation, shipping routes and corporate margins if the Middle East confrontation drags on.The deadlock in US-Iran peace talks has effectively put the Strait of Hormuz back at the center of market thinking.The energy story also mattered beyond commodities, because higher crude tends to filter into transport, chemicals and broader consumer costs, raising the chance that the session’s early gains in some equity pockets would remain fragile.<h2>Seoul steals the spotlight</h2>South Korea was the clear standout, with the benchmark Kospi opening at a fresh record and surging 4.70%, while the Kosdaq slipped 0.30%.The move highlighted a market led by heavyweight chip names rather than broad speculative appetite.SK Hynix was the session’s marquee mover, jumping 10.74% and giving Seoul’s rally a powerful semiconductor engine.The recent Korean surge is linked to the global AI hardware trade, with chipmakers Samsung Electronics and SK Hynix driving the benchmark to record territory and attracting strong foreign buying.That backdrop helps explain why Seoul could outperform even as energy prices and geopolitical risk weighed on sentiment elsewhere in Asia.<h2>Mixed scoreboard across the region</h2>The rest of Asia painted a more uneven picture.Japan’s Nikkei 225 was choppy and slightly lower, while the Topix edged up 0.19%, showing that the market was digesting both the global tech rally and the darker oil backdrop.Nintendo was a notable laggard, falling 5.54% as investors weighed the company’s plan to raise Switch 2 prices against expectations for softer console sales.The stock fell after the company lifted prices and investors questioned the strength of its game pipeline.Australia’s S&amp;P/ASX 200 slipped 0.83%, while China was modestly firmer, with the CSI 300 up 0.58%.Hong Kong’s Hang Seng, meanwhile, fell 0.48%, completing a session that was less a synchronized Asia-wide move than a patchwork of local reactions to one big external shock.The post Kospi hits record as Asian markets react to oil spike, rising Iran tensions appeared first on Invezz</div>

On May 10, Trump tweeted angrily declaring Iran's latest response "completely unacceptable." Iran, through Pakistan, proposed an immediate ceasefire and the lifting of the naval blockade, while the US insists that Iran suspend uranium enrichment and restore passage through the Strait of Hormuz. The two sides remain fundamentally opposed. Do you think there's any possibility of breaking this deadlock?

On May 10, Trump tweeted angrily declaring Iran's latest response "completely unacceptable." Iran, through Pakistan, proposed an immediate ceasefire and the lifting of the naval blockade, while the US insists that Iran suspend uranium enrichment and restore passage through the Strait of Hormuz. The two sides remain fundamentally opposed. Do you think there's any possibility of breaking this deadlock?

US-Iran deadlock returns — is a ceasefire still possible?

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Asian markets opened cautiously as oil prices surged and US-Iran tensions escalated. West Texas Intermediate futures rose 3.94% to $99.18, while Brent increased 3.49% to $104.83. South Korea's Kospi reached a record high, climbing 4.70%, driven by strong performances from semiconductor stocks like SK Hynix. In contrast, other Asian markets showed mixed results, with Japan's Nikkei slightly lower and Australia's S&P/ASX 200 down 0.83%. The geopolitical climate and rising energy costs are influencing market sentiment across the region.