Nikkei, Kospi Hit Record Highs on AI Optimism; Oil Climbs as Iran Ceasefire Unresolved

Japan’s Nikkei 225 and South Korea’s Kospi surged to all-time highs on Monday, June 1, 2026, fueled by relentless artificial intelligence demand, while oil prices rose more than 2% as negotiations for an Iran war ceasefire extension and the reopening of the Strait of Hormuz remained deadlocked. The Nikkei 225 rose 1.3% to 67,231.28, crossing the 67,000 mark for the first time. SoftBank Group jumped over 9%. The Kospi added 5% to 8,874.16 as Samsung Electronics surged more than 9%. South Korea’s May exports skyrocketed 53% year-on-year, buoyed by global semiconductor demand. Brent crude gained 2.4% to $93.33 a barrel, while U.S. crude advanced 2.8% to $89.76. The Strait of Hormuz, a chokepoint for global oil transit, remains largely closed under a U.S. blockade. Wall Street’s S&P 500 rose 0.2% Friday to a seventh straight record of 7,580.06, driven by AI beneficiaries Dell Technologies (+32.8%), Microsoft (+5.4%), and Broadcom (+4.7%). The dollar firmed to 159.48 yen from 159.25 yen.