TLDR
- Tech stocks led Asian gains as chipmakers in South Korea and Taiwan surged on Monday.
- Oil prices rebounded as traders watched U.S. plans to guide ships from Hormuz waters safely.
- European markets stayed uneven, with Germany edging higher while France declined and Britain remained closed.
- S&P 500 futures stayed flat after Friday’s record close and another strong corporate earnings round.
- Crypto traders watched risk mood as tech demand rose and energy prices moved higher Monday.
World shares were mixed on Monday, as sharp gains in tech stocks balanced weaker moves in some markets. Oil prices also bounced back, while traders watched the Strait of Hormuz. The mood stayed careful, as investors tracked earnings, energy prices, and shipping risks.
Tech stocks lead gains across Asia
Asian markets showed a mixed but firm tone, helped by strong buying in technology shares. Hong Kong’s Hang Seng rose 1.2% to 26,095.88. South Korea’s Kospi jumped 5.1% to 6,936.99, driven by chip and tech stocks.
Samsung Electronics gained 5.4%, while Taiwan’s Taiex climbed 4.6%. TSMC, the market’s largest chip stock, rose 6.6%. The gains followed Friday’s Wall Street rally and strong demand for large tech names.
Markets in mainland China and Japan were closed for Golden Week holidays. Australia’s S&P/ASX 200 slipped 0.4% to 8,697.10. The moves showed a split market, with tech rising while other sectors stayed uneven.
Oil prices rise as Hormuz remains in focus
Oil prices rebounded as shipping concerns stayed high near the Strait of Hormuz. U.S. crude rose $1.80 to $103.73 a barrel. Brent crude climbed $2.23 to $110.40 a barrel.
The U.S. launched an effort early Monday to guide ships out of the strait. Iran rejected the plan, according to Iran’s Mizan news agency. The agency also said Tehran was reviewing the U.S. response to its latest peace proposal.
Stephen Innes of SPI Asset Management said the oil market “remains the fulcrum.” He cited tankers, bulk carriers, and cargo ships still stuck across the Gulf. He said storage limits were forcing some producers to cut output.
Thousands of seafarers remain stranded in the Persian Gulf, according to the report. Some have seen drones and missiles explode over nearby waters. Many vessels are also running low on water, food, and supplies.
Europe trades unevenly after Wall Street records
European shares were also mixed on Monday. Germany’s DAX edged up 0.1% to 24,303.77. France’s CAC 40 fell 0.5% to 8,072.91, while British markets were closed.
U.S. futures were softer in early trade. The S&P 500 future was nearly unchanged, and Dow futures fell 0.3%. Traders watched whether Wall Street could extend Friday’s record run.
On Friday, the S&P 500 rose 0.3% to 7,230.12. The Nasdaq composite gained 0.9% to 25,114.44. The Dow Jones Industrial Average slipped 0.3% to 49,499.27.
Apple helped lift the S&P 500 after stronger profit results. Its shares rose 3.3%, making it the top support for the index. Around 80% of S&P 500 companies have beaten earnings forecasts so far.
For crypto traders, the wider market mood remains important. Tech strength can support risk appetite, but higher oil prices may raise caution. The dollar rose to 156.92 yen, while the euro fell to $1.1717
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