Asian markets exhibited mixed outcomes Monday while U.S. futures increased following the extended Wall Street weekend. Technology share sales impacted benchmarks in Tokyo and Seoul, leading to a decrease in these regions.

Oil prices experienced a decline after the announcement by OPEC+ on Sunday. Seven member states intend to elevate oil production by an aggregate of 188,000 barrels per day in August. This marks the fifth month in succession that OPEC+ nations have committed to boosting output. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman are the countries planning to augment their oil production.

The supply uncertainties persist with the paused talks with Iran. These negotiations aim to fully reopen the Strait of Hormuz, but they are currently on hold during the funeral ceremonies for Ayatollah Ali Khamenei, which are expected to extend for several days.

Energy trading on Monday saw Brent crude, the global benchmark, lose 2 cents reaching $72.10 per barrel. Meanwhile, the U.S. benchmark crude rose by 20 cents, reaching $68.89 per barrel.

Japan’s Nikkei 225 index fell by 0.3% to 69,568.27. SoftBank Group Corp., a significant tech firm, dropped by 3.3%, and Tokyo Electron, a computer chipmaker, also fell by 1.0%. In South Korea, the Kospi index decreased by 0.7% to 8,033.16.

Conversely, the Hang Seng index in Hong Kong increased by 0.8% to 23,540.58, while the Shanghai Composite index minimally decreased by less than 0.1% to 4,042.08. Australia’s S&P/ASX 200 saw a decline of 0.2% to reach 8,831.00.

On the currency front, the U.S. dollar appreciated to 162.08 Japanese yen from 161.34 yen. Last year, the dollar traded around 140 yen. The euro decreased slightly, costing $1.1425 compared to the previous $1.1440.

U.S. markets were closed on Friday, July 3, for the Independence Day holiday, as July 4th fell on a Saturday this year.

For more insights and updates, you can follow Yuri Kageyama on Threads: https://www.threads.com/@yurikageyama.