South Korea Financial Markets

A dealer walks past near the screens showing the foreign exchange rates at a dealing room of Hana Bank in Seoul, South Korea, Monday, July 27, 2026.

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Oil prices sink 4% while Asian shares gain as Chinese chipmaker CXMT soars in Shanghai trading debut

Oil prices sink 4% while Asian shares gain as Chinese chipmaker CXMT soars in Shanghai trading debut

Shares are mostly higher in Asia as oil prices slipped more than 4% after the U.S. and Iran paused their attacks for a second night. The two sides were refraining from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal. Shares in Chinese memory chipmaker CXMT soared about 470% as they began trading on Shanghai's technology board Monday. On Friday, U.S. shares drifted and the S&P 500 was mostly unchanged. The Dow industrials added 0.5% and the Nasdaq composite fell 0.6%. All three indexes finished the week lower. After shooting to $102 a barrel last week, Brent crude was down 4.6% at $87.46 early Monday. U.S. futures advanced.