Asia-Pacific markets traded mixed on Monday morning, amid concerns over escalating tensions in the Middle East.
The Kospi fell 0.74% at the open, while the small-cap Kosdaq fell 1.66%. Australia’s benchmark S&P/ASX 200 was 0.34% higher. Japanese markets are closed for the holidays.
The three leading US indices closed in the red last week,
The Korean stock exchange activated a temporary selling arrangement on Kospi, temporarily halting trading in the program, which sent South Korean stocks tumbling. A sell temporary arrangement is activated when the Kospi 200 futures index falls by 5% or more for at least one minute, halting trading for five minutes.
Alibaba shares rose 5.15% on Monday after previewing the launch of its flagship Qwen 3.8 Max on Sunday.
The Chinese tech giant described the new model, which has 2.4 trillion parameters, as a model that matches high-end AI systems and ranks second only to Anthropic’s Claude Fable 5, adding that a preview is now available through the Token Plan, Qoder and QoderWork platforms.
Shares in Hyundai Motor fell 6.6%, following local reports last week that the carmaker’s union was extending a partial strike starting on Monday, SEEbiz reports.
A union spokesman said Thursday that from July 20 to 22, members will stage four-hour strikes during their shifts, Yonhap reported. This is the second round of union strikes this year.
The union reportedly said workers would hold partial strikes as part of efforts to secure higher wages, raising concerns about disruptions to production at the firm.
