South Korea stocks hit fresh high amid mixed regional trade despite Trump's Iran deal caution
Asia-Pacific markets traded mixed on Monday as investors monitored lingering uncertainty around U.S.-Iran negotiations.
Troov
Hong Kong's Victoria Harbour.
Yaorusheng | Moment | Getty Images
South Korea stocks hit a fresh record high on Monday, bucking a mixed performance across Asia-Pacific markets as investors monitored lingering uncertainty around U.S.-Iran negotiations after President Donald Trump said he was in "no hurry" to strike a deal to end the conflict.
South Korea's Kospi jumped 1.31%, while the small-cap Kosdaq was down 1.58%. Shares of Samsung Electronics rose more than 3% to hit an all-time high.
Japan's Nikkei 225 rose 0.17%, while the Topix declined 0.3%. In Australia the S&P/ASX 200 lost 0.21%.
Shares of SoftBank Group rose 5% after the conglomerate on Sunday announced plans to invest 45 billion euros ($53 billion) over the next five years to build artificial intelligence infrastructure in France.
Hong Kong markets appeared set for a weaker open. Futures for the Hang Seng index stood at 25,098, lower than the index's last close of 25,182.39.
The U.S. and Iran have still not finalized an agreement to end the conflict, Trump said in an interview with his daughter-in-law, Lara Trump, on Fox News Saturday. He added that he is pressing for a deal that would ensure Iran never acquires a nuclear weapon.
While he said he would prefer a swift resolution, he stressed that he was not rushing negotiations and warned that military action could resume if talks collapse.
"I'd like to say I'm in a hurry because gasoline prices are going to come tumbling down, but if you're going to be in a hurry, you're not going to make a good deal," Trump said. "And slowly but surely we're getting, I think, what we want, and if we don't get what we want we're going to end it a different way."
Last Friday on Wall Street, U.S. equities closed at record highs while crude prices slipped, helping the major averages score a winning month, boosted by technology.
The Nasdaq Composite settled up 0.2% at 26,972.62, while the S&P 500 climbed 0.22% to 7,580.06. The Dow Jones Industrial Average finished up 363.49 points, or 0.72%, at 51,032.46. All three indexes hit fresh all-time intraday highs earlier as well.
— CNBC's Sarah Min and Lisa Kailah Han contributed to this report
