Asian Shares Mixed After Fresh US Strikes On Iran

(RTTNews) - Asian stocks ended mixed on Tuesday, with South Korea's Kospi rallying to reach a fresh record high as trading resumed after a long holiday weekend.

A cautious undertone prevailed elsewhere across the region after American forces hit missile launch sites in Iran and boats trying to place mines, denting hopes of an imminent peace deal.

Elsewhere, Israel struck sites in southern Lebanon after Prime Minister Benjamin Netanyahu vowed further strikes.

The U.S. dollar rebounded in Asian trade and Brent crude futures climbed above $99 a barrel, while gold fell nearly 1 percent to $4,526 an ounce as the latest U.S. strikes on Iran clouded the outlook for an interim peace deal.

China's Shanghai Composite index slid 0.17 percent to 4,145.37 and Hong Kong's Hang Seng index finished marginally lower at 25,599.45 following Beijing's crackdown on illegal cross-border trading to stem capital outflows.

Japanese markets retreated from a record high amid continued uncertainty over the Strait of Hormuz reopening.

The Nikkei average slipped 0.25 percent to 64,996.09 after having gained nearly 9 percent over the past three sessions. The broader Topix index settled 0.10 percent lower at 3,938.46.

Chip-related stocks paced the declines, with Advantest tumbling over 6 percent and Tokyo Electron losing 1.5 percent.

Technology investor SoftBank Corp soared 10.9 percent to extend gains for a fourth consecutive session on optimism over its exposure to artificial intelligence and chipmaking.

Seoul stocks scaled a new peak as trading resumed after a public holiday. The Kospi average jumped 2.55 percent to 8,047.51, marking a new record closing high and extending its winning streak for a third straight session. Among the top gainers, Samsung Electronics advanced 2.2 percent and SK Hynix surged 5.7 percent.

Australian markets ended lower to snap a three-session rally, with banks leading losses on inflation concerns.

The benchmark S&P/ASX 200 dipped 0.39 percent to 8,657.80 ahead of key inflation data due on Wednesday. The broader All Ordinaries index closed 0.37 percent lower at 8,882.60.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index climbed 0.77 percent to 13,069.74, hitting a two-week high.

U.S. markets were closed on Monday in observance of Memorial Day.