Asian equities opened mixed on Monday, with South Korea advancing while Australia was little changed, as investors evaluated a U.S. plan to move stranded vessels out of the Strait of Hormuz and tracked developments in the Iran-U.S. situation.
South Korea's Kospi rose 2.38% to 6,755.86. Australia's S&P/ASX 200 edged down 0.03% to 8,726.90. Trading was thin across the region, with markets in Japan and China closed for a public holiday.
The session follows a drop in crude prices at the end of last week, after signals emerged that diplomatic channels between Washington and Tehran may still be active. Oil held near those levels on Monday, with U.S. crude around $101 per barrel and Brent above $108.
The market is weighing the possibility of reduced tensions against ongoing risks to shipping flows through a key energy route.
US Ship Move Plan
U.S. President Donald Trump said Washington would try to assist vessels held up by the Strait of Hormuz disruption.
Writing on Truth Social on Sunday, Trump said the U.S. would make efforts to help ships affected since the conflict began. The initiative, referred to as "Project Freedom," is expected to start on Monday in the Middle East.
The plan targets civilian vessels from countries not linked to the conflict, with the aim of allowing them to resume operations.
The U.S. Central Command said the effort would be backed by guided-missile destroyers, more than 100 aircraft operating across domains, unmanned systems, and about 15,000 personnel.
Regional Signals
Futures for Hong Kong's Hang Seng Index pointed to gains, with contracts at 25,992 compared with the previous close of 25,776.53.
Investors continue to track whether the proposed U.S. move eases pressure on trade routes or whether uncertainty in the region keeps markets cautious.
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