economy
South Korean stocks hit fresh record, building on historic monthly rally in April
Asia markets were mixed Monday as investors assess news of President Donald Trump's plan to "free" ships stranded in the Strait of Hormuz.
TL;DR
- South Korea's Kospi index hit a fresh record high, building on April's strongest monthly gain in 28 years.
- U.S. President Trump announced 'Project Freedom' to free ships from the Strait of Hormuz, mobilizing U.S. military assets.
- Oil prices showed volatility amid the 'Project Freedom' plan.
- Samsung Electronics and SK Hynix reached record intraday highs, influenced by positive U.S. tech earnings.
- Other Asia-Pacific indexes were mostly higher, with Australia's S&P/ASX 200 declining.
- U.S. stock futures traded mostly higher, following new highs for the S&P 500 and Nasdaq Composite on Friday.