06:42 AM EDT, 05/11/2026 (MT Newswires) -- Asian stock markets largely churned Monday, as traders weighed AI-sector optimism but rising crude prices, and mulled US President Donald Trump's rejection on Sunday of an Iranian peace proposal.

Brent crude rose to $103.88 a barrel, up 2.6%, during Asian trading hours.

Hong Kong and Shanghai finished in the green, while Tokyo lagged. Another fresh zenith was set on Seoul's KOSPI index, which gained 4.3% after Wall Street-listed tech-sector peer issues rose on Friday. Other regional exchanges were mixed.

In Japan, the Nikkei 225 opened higher on AI-sector optimism, but sagged and closed down 0.5% as rising crude prices undercut optimism.

The benchmark Nikkei 225 rose 295.77 to 62,417.88, although gaining issues outnumbered losers 131 to 89.

Leading the upside was video-game maker Konami, up 10.3%, while Nintendo declined 8.4%, with both moves following earnings releases.

In Hong Kong, the Hang Seng Index opened lower but edged into the green, up 0.1% as traders monitored Middle East turmoil, but better-than-expected trade reports from Beijing.

The broad gauge Hang Seng rose 13.13 to 26,406.84, as gaining issues outnumbered losers 51 to 32. The Hang Seng TECH Index gained 0.1% on the day, while the Mainland Properties Index rose 1.3%.

Leading the upside was property-developer Longfor, gaining 8.4%, while New Oriental Education & Technology declined 5%.

On the mainland, the Shanghai Composite rose 1.1% to 4,225.02.

In economic news, China consumer price index (CPI) in April rose 1.2% on year, while the producer price index (PPI), pushed by crude prices, rose 2.8% in the same time period, reported the National Bureau of Statistics (NBS).

On the trade scene, China's exports in April grew 14.1% on year to $359.4 billion, while imports grew by 15.3% to $274.6 billion, reported China's Customs Administration.

On the other regional exchanges, the Taiwan TWSE inclined 0.5%; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index rose 0.4%, and the Thai Set declined 0.7%. In late trading in Mumbai, the Sensex was down 1.7%

The MSCI All Country Asia Pacific Index rose 0.4% on the day.