Asian markets mixed; Japan scales fresh record

June 22, 2026 (MLN): Asian markets traded on a mixed note on Monday, with Japanese equities leading regional gains as the benchmark Nikkei 225 surged 1.95% to a record high above the 72,000 level, while the broader Topix index advanced 1.29%.

South Korea’s Kospi climbed 1.22%, although the small-cap Kosdaq index declined 0.99%. Australia’s S&P/ASX 200 edged slightly higher.

In Greater China, Hong Kong’s Hang Seng Index fell 1.74%, while mainland China’s CSI 300 managed a 0.28% gain, according to CNBC.

Investor sentiment was also influenced by developments in global energy markets, where oil prices retreated after initial gains.

Brent crude slipped 0.38% to $80.26 per barrel after mediators Qatar and Pakistan indicated that U.S. and Iranian officials had agreed on a framework aimed at reaching a comprehensive agreement within 60 days. U.S. West Texas Intermediate crude pared earlier gains and traded around 1% higher at $77.52 per barrel.

Meanwhile, tensions between Washington and Beijing resurfaced after China introduced fresh trade restrictions on a number of American companies in response to recent U.S. actions targeting Chinese firms.

China’s Ministry of Commerce added 10 U.S. companies to its export control list, restricting the export of dual-use goods from China to those entities.

The affected firms include rare-earth producers MP Materials and USA Rare Earth, drone manufacturers Teal Drones and Jaia Robotics, electronics maker Aveox Inc., aerospace company Ball Aerospace & Technologies, and defense supplier Oshkosh Defense.

Separately, China’s Ministry of Finance barred 46 American companies primarily defense contractors—from participating in government procurement projects. The restrictions do not apply to locally registered foreign-funded enterprises linked to those firms.

The measures followed a recent update to the U.S. Pentagon’s “1260H” list, which added several major Chinese technology and industrial companies, including Alibaba, Baidu and BYD, over alleged ties to China’s military sector.

The move is widely seen as a signal that China intends to respond to U.S. restrictions while avoiding a broader deterioration in bilateral relations.

On Wall Street, investors continued to assess the outlook for U.S. monetary policy after last week’s Federal Reserve meeting.

The S&P 500 and Dow Jones Industrial Average each gained nearly 1% during the shortened trading week, while the Nasdaq Composite rose more than 2%, supported by strength in semiconductor stocks. U.S. markets were closed on Friday in observance of the Juneteenth holiday.

Market participants are now awaiting the release of the U.S. personal consumption expenditures (PCE) price index on Thursday, the Federal Reserve’s preferred inflation measure.

The data is expected to provide fresh clues on the trajectory of interest rates after expectations for a potential rate increase were brought forward to as early as October following the Fed’s latest policy signals.

Copyright Mettis Link News