Japan, SKorea Stocks Hit More Records  06/01 05:17

   Stock markets in Japan and South Korea hit fresh record highs Monday and 
world shares mostly advanced, as tensions between the U.S. and Iran grew again 
while investors await a decision on extending the Iran war ceasefire.

   HONG KONG (AP) -- Stock markets in Japan and South Korea hit fresh record 
highs Monday and world shares mostly advanced, as tensions between the U.S. and 
Iran grew again while investors await a decision on extending the Iran war 
ceasefire.

   Oil prices gained more than 3% as U.S.-Iran negotiations continued, 
including on the reopening of the Strait of Hormuz, a key waterway for global 
oil and natural gas transit. The U.S. military said Monday the United States 
bombed Iranian military sites after Tehran shot down an American drone.

   U.S. futures edged higher.

   In early European trading, Britain's FTSE 100 was down 0.1% to 10,396.16. 
France's CAC 40 edged up 0.2% to 8,202.53, while Germany's DAX gained 0.4% to 
25,198.34.

   Asian shares mostly gained and Japan's and South Korea's benchmarks hit 
records, led by technology-related stocks, as investors continued to see growth 
in AI and other advanced technologies.

   Tokyo's Nikkei 225 ended 0.9% higher at an all-time record of 66,934.33. It 
also crossed the 67,000 mark for the first time during Monday's trading, 
reaching 67,231.28. Shares of SoftBank Group, the investment company that 
focuses heavily on AI, soared 14% and became Japan's most valuable listed 
company, surpassing Toyota.

   In South Korea, the Kospi index jumped 3.7% to 8,788.38, also closing at a 
record high, after hitting an intraday record of 8,874.16. Samsung Electronics, 
its biggest company, was up 10.1%. Official data on Monday showed that South 
Korea's exports surged 53% year-on-year in May, buoyed by global demand for 
semiconductors.

   The Nikkei 225 was up more than 12% over the past month, while the Kospi 
surged around 27% during the same period.

   Hong Kong's Hang Seng traded 0.9% higher at 25,398.18. The Shanghai 
Composite index fell 0.3% to 4,057.74, after China reported over the weekend 
that factory activity in May softened with signs of slowing new exports demand.

   Australia's S&P/ASX 200 edged down less than 0.1% to 8,729.40.

   Taiwan's Taiex climbed 1.4%, while India's Sensex lost 0.7%.

   Three months after the Iran war began, uncertainties over a permanent end to 
the war are still driving market movements and keeping oil prices swinging, 
even as optimism on robust AI demand and strong corporate earnings have fueled 
a stock market rally including on Wall Street.

   On Friday, U.S. President Donald Trump met with advisers in high-level talks 
but had not decided yet on a tentative plan to extend the Iran war ceasefire by 
60 days, while Iran had said a deal was not finalized. The reopening of the 
Strait of Hormuz was also still in limbo. The strait has been largely closed 
and the U.S. has imposed a sea blockade on Iranian ports.

   The Israeli army was also advancing in Lebanon as Israel targets the 
Iran-backed Hezbollah militant group, further complicating developments of a 
deal on the Iran war.

   Brent crude oil, the international standard, rose 3.3% early Monday to 
$94.16 per barrel. It was approximately $70 a barrel in late February, before 
the start of the war.

   Benchmark U.S. crude was 3.9% higher at $90.78 a barrel.

   "In spite of another round of tit-for-tat attacks, market participants 
continue to operate on the assumption that, sooner rather than later, the 
Strait of Hormuz will re-open," wrote Jonas Goltermann, chief markets economist 
at Capital Economics.

   On Friday, Wall Street stocks reached more records powered by big technology 
stocks, with the benchmark S&P 500 adding 0.2% in its seventh straight gain to 
7,580.06.

   The Dow Jones Industrial Average climbed 0.7% to 51,032.46, while the 
technology-heavy Nasdaq composite gained 0.2% to 26,972.62.

   Dell Technologies surged 32.8% following strong-than-expected results and 
after it raised its outlook on strong AI-related demand. Microsoft rose over 
5.4%, while Broadcom was up 4.7%.

   In other dealings, the U.S. dollar rose to 159.47 Japanese yen from 159.25 
yen. The euro was trading at $1.1650, down from $1.1667.