On Monday (11 May, 9:16 AM, GMT+7, Bangkok time), major indices in the Asia Pacific traded mixed as South Korea’s Kospi notched a fresh all-time high. Market sentiment was buoyed by robust performance in the technology sector but tempered by concerns over heightened geopolitical risk, as energy prices surged on renewed tensions between the United States and Iran.
President Donald Trump dismissed Iran’s latest attempt to negotiate an end to the Middle East conflict. Reports from Iranian media indicated that Tehran had put forward a new set of proposals to U.S. negotiators, seeking a halt to hostilities across all fronts and the removal of Western sanctions. Sources quoted by Iran’s Tasnim news agency outlined these demands, but Trump publicly rejected the counteroffer as “TOTALLY UNACCEPTABLE!” in a post on Truth Social.
Israel’s Prime Minister Benjamin Netanyahu reinforced the uncertain outlook by stating the conflict with Iran was ongoing and reiterated objectives to constrain Iran’s nuclear advancements. These remarks came just ahead of President Trump’s scheduled visit to China, where discussions with President Xi Jinping are expected.
Amid these geopolitical developments, market participants also reviewed recent economic indicators from China. Official data showed both consumer and producer inflation exceeded consensus forecasts in April. Annual consumer prices rose 1.2%, above market expectations of 0.9%, and faster than the 1% increase in March.
Japan’s NIKKEI slid by 0.29% to 62,530.50. Australia’s ASX 200 declined by 0.78% to 8,676.10, while South Korea’s KOSPI jumped by 4.75% to 7,854.47.
As for stocks in China, Shanghai’s SSEC rose by 0.58% to 4,204.18. Shenzhen’s SZI grew by 0.93% to 15,709.23, while Hong Kong’s HSI contracted by 0.33% to 26,307.42.
The U.S. stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) increased by 0.02% to 49,609.16. NASDAQ soared by 1.71% to 26,247.07, and S&P 500 expanded by 0.84% to 7,398.93. VIX escalated by 0.64% to 17.19.
As for commodities, oil prices settled higher on Friday, with Brent crude futures surging by 1.23%, or $1.23, to finish at $101.29 per barrel. U.S. West Texas Intermediate crude advanced 0.64%, up 61 cents at $95.42 per barrel.
This morning, oil prices rose sharply after diplomatic efforts to reach a peace agreement between the U.S. and Iran did not result in a deal. Brent futures gained $3.34 or 3.30% to $104.63 per barrel, and the WTI futures surged $3.64 or 3.81% to $99.06 per barrel.
Meanwhile, gold futures fell by 0.87% to $4,689.40 per Troy ounce.
