Japan and South Korea return to trade for the first day after the Hamas attack.
Asia-Pacific markets climbed across the board, as markets rally despite pressures from the attack on Israel by Palestinian militant group Hamas.jumped over 2%, leading gains in the region as the country comes back from a public holiday, with the Topix also gaining 1.9%.Hong Kong experienced a shortened trading day of just two hours Monday after the city canceled its morning session due to a typhoon warning.Overnight in the U.S.
Goldman Sachs is bullish on Japan right now and says one sector in particular is seeing a"high level of interest" following rallies of around 30%.The conflict between Israel and Hamas may not have a direct impact on oil supply, but it's likely to drive up oil prices in the short term just based on fears of a wider escalation, according to analysts.All sectors ended Monday in the green, led by gains in energy and industrials, which closed higher by 3.5%, and 1.6%, respectively.
Although the bond market is closed for Columbus Day, 10-year Treasury futures added about 0.67%, the five-year gained 0.50% and the two-year by 0.20%.Defense stocks surged Monday as the Israel-Hamas conflict sparked concerns of geopolitical instability, making them the broad market index's biggest gainers as of Monday afternoon.
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