Stocks in South Korea and Australia traded lower on Monday, while other Asia Pacific markets are closed due to public holiday.
The TAIEX in Taiwan was down 1.21% as the session is approaching the afternoon break, while the ASX200 in Australia dropped 0.84%. Markets in Japan, South Korea, Hong Kong, China and Thailand are closed due to public holidays, causing a noticeable absence of activity in the region.
Oil markets faced a sharp downturn after OPEC+ members reached a consensus to boost oil production for a second consecutive month. Brent crude oil prices fell by 3.52% to $59.13 per barrel, while West Texas Intermediate saw a similar decline, dropping 3.83% to $56.06.
In the United States, the S&P 500 surged by 1.47% to close Friday’s session at 5,686.67, marking its ninth straight day of gains—the longest streak since November 2004. This rise helped the index recoup losses incurred since early April when former President Trump announced retaliatory tariffs. The Dow Jones Industrial Average soared by 564.47 points or 1.39% to finish at 41,317.43, while the Nasdaq Composite advanced by 1.51%, ending the day at 17,977.73.
