BEIJING, China: Asian stocks ended mixed today, with Japanese and South Korean markets reaching fresh records on signs of easing geopolitical tensions and investor enthusiasm for artificial intelligence, reported dpa-AFX.
A cautious undertone prevailed elsewhere across the region after the US Federal Reserve hinted at a possible interest rate hike this year.
The dollar rallied in Asian trade on the back of hawkish Fed bets and upbeat retail sales and housing data released overnight.
Gold traded nearly 1 per cent higher below USD4,300 an ounce while Brent crude futures fell almost 2 per cent toward USD78 a barrel.
China’s Shanghai Composite index dropped 0.43 per cent to 4,090.48 on worries about possible rate hikes in the US.
Hong Kong’s Hang Seng index tumbled 1.59 per cent to 23,924.81, extending losses for a third consecutive session.
Japanese markets rallied after reports emerged that the US-Iran peace agreement has been finalised and digitally signed by US President Donald Trump and Iranian President Masoud Pezeshkian.
Both countries released the text of the agreement, which seeks to extend a ceasefire announced in April by another 60 days to allow room for negotiations.
The Nikkei average soared 1.65 per cent to 71,053.49, rising above 71,000 for the first time and extending its record-breaking run to a fourth session.
The broader Topix index settled 1.37 per cent higher at 4,068.18. Artificial intelligence and semiconductor-related stocks topped the gainers list, reflecting overnight gains in the US SOX Philadelphia semiconductor index.
Seoul stocks reached a new peak as chipmakers hit record highs on AI optimism. The Kospi index jumped 2.25 per cent to 9,063.84, breaching the 9,000 milestone for the first time.
Australian markets fell notably to snap a four-day winning streak. The benchmark S&P/ASX 200 dropped 0.62 per cent to 8,911.10, after having hit a two-month high in the previous session.
The broader All Ordinaries index closed 0.64 per cent lower at 9,126.80.
Across the Tasman, New Zealand’s benchmark S&P/NZX-50 index slipped 0.22 per cent to 13,363.31, extending losses from the previous session despite Q1 GDP data matching expectations. – BERNAMA-dpa-AFX
