Shanghai’s city skyline as seen from observation deck at Shanghai Tower in China.
Qilai Shen | Bloomberg | Getty Images
Asia-Pacific markets rose Monday following Wall Street gains from last week after a U.S. job report showed that unemployment rate fell, signaling resilience in the labor market.
Investors will be keeping an eye on oil prices as Iran entered a third week of protests, which have seen more than 500 people killed, according to a U.S.-based rights group. President Donald Trump is reportedly weighing options for intervention in Iran, according to multiple reports Sunday.
Brent crude futures reversed course to fall to $63.05 per barrel, while the U.S. West Texas Intermediate crude declined 0.49% to $58.83 per barrel, as of 10 a.m. Singapore time (9 p.m. ET Sunday).
Spot gold prices rose more than 1.6% to hit all-time high of $4,581.29 per ounce.
Gold spot price
Australia’s S&P/ASX 200 added 0.38%.
South Korea’s Kospi climbed 1.11%, and the small-cap Kosdaq advanced 0.96%. Shares of Hyundai Glovis soared as much as 8% after analysts raised their price target for the South Korean logistics company.
Robot-maker Boston Dynamics, in which Hyundai Glovis owns an 80% stake, announced a partnership with Google DeepMind last Monday to integrate AI into humanoid robots.
Hong Kong’s Hang Seng Index and mainland China’s CSI 300 opened slightly below the flatline.
Japanese markets were closed for a holiday. On Sunday, Japanese Prime Minister Sanae Takaichi’s coalition partner, Hirofumi Yoshimura, said that she may call an early general election. His comments come after domestic media reported that Takaichi was considering a snap election in February, citing government sources.
The Japanese yen weakened sharply Monday, hitting a one-year low of 158.19 against the greenback.
U.S. equity futures were flat in early Asian hours, ahead of a flurry of key economic data and earnings reports throughout the week.
On Friday stateside, the S&P 500 closed up 0.65% to 6,966.28, a fresh record close. It also notched a new all-time intraday high in the session.
The Nasdaq Composite gained 0.81% to 23,671.35. The Dow Jones Industrial Average added 237.96 points, or 0.48%, to end at 49,504.07, scoring a new closing record as well.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
Correction: This story has been updated to accurately reflect Brent crude futures prices.
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