Asian stock markets showed mixed performance on Monday, while oil prices jumped sharply as uncertainty continued over talks to end tensions involving Iran.

Japan’s benchmark Nikkei 225 hit a new record, rising 1.4% to close at 60,481.21 after touching an intraday high. South Korea’s Kospi also gained 2%.

However, markets in Hong Kong and mainland China were less upbeat. Hong Kong’s Hang Seng fell 0.3%, while the Shanghai Composite edged up slightly. Australia’s S&P/ASX 200 slipped 0.3%.

Taiwan’s Taiex jumped 1.8%, supported by strong demand for technology stocks driven by the growth of artificial intelligence. India’s Sensex also rose 0.4%.

Oil prices surged as negotiations related to Iran faced setbacks. The White House canceled plans to send officials for further talks, with U.S. President Donald Trump saying discussions could continue remotely instead.

Brent crude increased by $2 to $101.13 per barrel, while U.S. crude rose to $96.24.

Investors are also watching closely as major central banks, including the Federal Reserve, European Central Bank, Bank of Japan and Bank of England, prepare to announce interest rate decisions this week.

On Wall Street, markets ended last week on a strong note. The S&P 500 rose 0.8% to a record close, while the Nasdaq Composite jumped 1.6% to a new high, helped by gains in technology shares. The Dow Jones Industrial Average slipped slightly.

A survey by the University of Michigan showed consumer confidence weakened in April, though it improved slightly after a ceasefire in the Iran conflict was announced earlier.

Despite hopes for stability, tensions between the U.S. and Iran continue to disrupt oil shipments through the Strait of Hormuz, raising concerns in global markets.

Meanwhile, tech giant Intel saw its shares surge after strong earnings, driven by rising demand for AI-related products.

In currency trading, the U.S. dollar weakened slightly against the Japanese yen, while the euro gained ground.