Asian Stock Markets Move Variedly, KOSPI Hits New All-Time High
Asian stock markets moved in varied directions at the start of this week. South Korean shares hit a new record, continuing their historic monthly rally after last April.
Investors continue to consider tensions between Iran and the United States (US), as well as US plans to reopen shipping lanes in the Strait of Hormuz.
Quoting CNBC International, the US is still working to free ships stranded due to the closure of the Strait of Hormuz since the start of the Iran war. That statement was made by US President Trump in a post on Truth Social on Sunday (3/5/2026).
That effort is called “Project Freedom”, which is scheduled to begin on Monday Middle East time. Its main focus is to evacuate civilian ships flagged by countries not involved in the conflict from the disputed waters so they can continue their business activities freely and smoothly.
“US military support for Project Freedom will include guided-missile destroyers, more than 100 land and sea aircraft, multi-domain uncrewed platforms, and 15,000 military personnel,” said the US Central Command shortly after Trump’s announcement, quoted on Monday (4/5/2026).
For information, oil prices fell after the “Project Freedom” announcement. July West Texas Intermediate (WTI) futures contracts fell 0.59% to US$101.34 per barrel at 19:38 ET. Brent crude oil futures contracts fell 0.27% to US$107.88 per barrel.
Previously, Hong Kong’s Hang Seng index futures were at 25,992, compared to the index’s last close at 25,776.53.
Meanwhile, Australia’s S&P/ASX 200 index weakened slightly. Markets in Japan and China were closed for national holidays.
US stock futures traded near flat on Sunday evening. S&P 500 futures rose 0.1% and Nasdaq 100 futures rose 0.1%. Futures tied to the Dow Jones Industrial Average rose 100 points, or 0.2%.
On the previous Friday, both the S&P 500 and Nasdaq Composite rose to new all-time intraday and closing highs. The broad market index rose 0.29%, while the technology-dominated Nasdaq rose 0.89%. However, the Dow went against the trend, falling 152.87 points, or 0.31%.