Mainland markets rose despite hopes for a settlement to the Middle East crisis being dashed as Hong Kong stocks opened down.

The benchmark Hang Seng Index opened down 82 points, or 0.31 percent, at 26,310.

The China enterprises index was down 36 points, or 0.41 percent, at 8,853 while the tech index was down 24 points, or 0.48 percent, at 5,078.

On the mainland, the Shanghai Composite Index opened up 21 points, or 0.5 percent, at 4,201.

The Shenzhen Component Index was up 133 points, or 0.9 percent, at 15,697 while the ChiNext Index opened up 33 points, or 0.9 percent, at 3,829.

In Tokyo, the Nikkei Stock Average opened up 489 points, or 0.78 percent, at 63,203 and touched a record high before erasing gains as the Middle East crisis outweighed optimism over corporate earnings and technology investment.

The 225-issue benchmark was 271 points, or 0.43 percent, down at 62,441 at one point before lunch.

In Seoul, the Korea Composite Stock Price Index was 328 points, or 4.39 percent, higher at 7,826 at one point before midday after opening up 277 points, or 3.7 percent, at 7,775 as chipmakers extended gains ⁠amid optimism over artificial intelligence, bolstered by a rally in US peers and upbeat data.

"The conflict in the Middle ⁠East is now entering its 11th week," noted Bruce Kasman, global head of ⁠economics at JPMorgan.

"Energy prices have surged but remain at levels that are headwinds rather than expansion-ending obstacles."

"The risk of a sharper move rises with each week the Strait of Hormuz stays closed, and our ⁠commodities team sees operational stress levels starting sometime in June." (Reuters/Xinhua)




Edited by Tony Sabine