Asian Markets Mixed After Strong Wall Street Performance

Asian markets showed mixed results on Monday after a strong performance from Wall Street. Japan's Nikkei 225 led gains, increasing by 2.1% to 66,970.22 due to strong technology sector performances. Tokyo Electron rose 4.1%, and Advantest gained 6.4%. However, in South Korea, the Kospi added only 0.7% as major chipmakers slipped. Samsung Electronics lost 0.4%, while SK Hynix declined by 0.1%.

Analysts attributed foreign investors' sales of shares in Big Tech companies to locking in profits and rebalancing holdings into other sectors, such as defense contractors. In Hong Kong, the Hang Seng gained 0.9%, while the Shanghai Composite index picked up 0.7%. The Australian market was a notable exception, losing 0.3%.

Brent crude prices rose by 0.6% to $84.01 per barrel due to ongoing tensions in the Middle East. Iran suggested that vessels linked to 'hostile countries' would be barred from the Strait of Hormuz under a potential deal with Oman. Meanwhile, Yemen's Houthi rebels struck a government-held port, deepening fears over shipping route threats.