Asian Stock Markets Open Mixed, Kospi Continues to Set New Record

Asian-Pacific stock markets moved variably on Monday’s trading (11/5/2026) amid a surge in global oil prices due to rising geopolitical tensions between the United States (US) and Iran.

According to CNBC.com, South Korea’s Kospi index even opened surging to a new all-time high, while global investors continue to monitor developments in the Middle East conflict.

Market sentiment remains cautious after US President Donald Trump rejected Iran’s latest proposal to end the war. In a post on Truth Social, Trump described Iran’s response as “TOTALLY UNACCEPTABLE!”.

Iran had previously submitted a new proposal to US negotiators focused on halting the conflict in the Middle East. The semi-official Tasnim news agency reported that the counter-proposal included stopping the war across all fronts and lifting sanctions on Tehran.

On the other hand, Israeli Prime Minister Benjamin Netanyahu emphasised that the war with Iran “is not over”. The US and Israel are reportedly still working to curb Tehran’s nuclear ambitions amid the heating regional situation.

Netanyahu’s comments come ahead of Trump’s visit to China this week to meet President Xi Jinping. The conflict, which led to Iran closing the Strait of Hormuz, has also triggered a spike in global energy costs and sharp rises in US petrol prices.

Global crude oil prices also soared in early-week trading. The West Texas Intermediate (WTI) contract for June rose 3.39% to US$98.65 per barrel, while the Brent contract for July strengthened 3.37% to US$104.66 per barrel.

In Asian stock markets, South Korea’s Kospi index opened up 3.67% and set a new all-time high. The small-cap Kosdaq index also edged slightly into positive territory.

Meanwhile, Japan’s Nikkei 225 rose 0.81% and the Topix gained 0.32%. In contrast to Japan and South Korea, Australia’s S&P/ASX 200 fell 0.71%.

Hong Kong’s Hang Seng futures were at 26,250, lower than the index’s previous close at 26,393.71. In the US, Dow Jones Industrial Average futures dropped 143 points or 0.3%, while S&P 500 and Nasdaq 100 futures both corrected 0.3%.

This movement follows a strong rally on Wall Street throughout the previous week. The S&P 500 and Nasdaq Composite indices surged more than 2% and 4% respectively, marking the first six consecutive weeks of gains since 2024.

Meanwhile, the Dow Jones index rose 0.2% over the past week. This increase marks the fifth weekly gain in the last six weeks.