Asian markets trade mixed amid renewed Middle East tensions

Mettis Global reported that regional stock markets were split as Monday's session opened, with sentiment dented by fresh unrest in the Middle East. South Korea's Kospi climbed 0.85 per cent, while the smaller Kosdaq added 0.43 per cent. According to CNBC, Australia's S&P/ASX 200 lost 0.49 per cent, whereas Hong Kong's Hang Seng gained 0.35 per cent and China's CSI 300 rose 0.64 per cent. Japan's market stayed shut for a public holiday.

Renewed hostilities over the weekend kept investors wary, after Iran-backed Houthis struck Saudi Arabia with missiles and drones on Saturday. The United States also urged its citizens to rethink trips to the region as tensions with Tehran flared again. In US trading, futures edged higher on Sunday night, with S&P 500 contracts up 0.23 per cent.

Wall Street had a poor week, as the Dow Jones Industrial Average fell 1.7 per cent, its third weekly drop in a row and worst since March. Investors are also watching oil near $100 a barrel and the 10-year US Treasury yield close to 5 per cent. The Federal Reserve raised rates last week, its first increase in three years, and a meeting between Donald Trump and Xi Jinping this week is expected to cover tariffs, critical minerals and artificial intelligence.