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Oil Prices Rise as Hormuz Tensions Threaten Supply 
UK House Prices Fall for First Time Since 2023 
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US Oil Blockade Deepens Iran’s Economic Crisis 
China to Inject $45 Billion Into State Financial Institutions 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
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Asian stock markets edged higher on Monday despite escalating tensions in the Middle East and rising oil prices, as strong gains in technology and semiconductor shares helped support investor confidence. Optimism surrounding an upcoming summit between U.S. President Donald Trump and Chinese President Xi Jinping also lifted sentiment across regional markets.
Chinese equities moved higher after Beijing confirmed that Trump and Xi will meet in Beijing from May 13 to 15. The summit is expected to focus on trade tariffs, Taiwan, and the ongoing Middle East conflict. Investors are also anticipating a possible extension of the trade truce agreed upon in late 2025.
The Shanghai Composite Index gained 0.7%, while the CSI 300 climbed 1.2%. However, Hong Kong’s Hang Seng Index slipped 0.4% amid cautious trading activity.
China’s latest economic data also supported market sentiment. April consumer inflation exceeded expectations, while producer prices surged to their highest level in nearly four years. Analysts attributed the increase largely to higher import costs caused by instability in the Middle East and rising energy prices.
South Korea’s KOSPI was the standout performer in Asia, soaring nearly 5% to a record high. The rally was driven by major semiconductor companies benefiting from continued demand linked to artificial intelligence technologies. SK Hynix jumped almost 12%, while Samsung Electronics advanced close to 6%, with both stocks reaching all-time highs amid ongoing memory chip shortages.
Elsewhere in Asia, Japan’s Nikkei 225 fell 0.4%, pressured by a sharp decline in Nintendo shares following weaker-than-expected earnings guidance. Australia’s ASX 200 dropped 0.7% after biotech giant CSL cut its annual outlook.
Meanwhile, concerns over the Iran conflict and disruptions in the Strait of Hormuz pushed oil prices sharply higher. Indian markets showed signs of weakness, with Nifty 50 futures down 1% as investors worried about the economic impact of rising energy costs on the country’s import-heavy economy.
