Stock in Asia-Pacific stocks were mixed, with South Korean stocks rising again on the back of big gains last week.
South Korea’s Kospi, which had a stellar start to 2021 as it jumped nearly 10% in the first trading week of the year, rose 0.73%.
Shares in South Korea’s auto sector rose again on Monday following a local media report that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars.
Hong Kong’s Hang Seng index advanced 0.67%. Elsewhere, the S&P/ASX 200 in Australia declined 0.75%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.12% higher.
Markets in Japan are closed on Monday for a holiday.
Hyundai Motor shares soared 10.57% while Hyundai Mobis gained 1.67%. Kia Motors also jumped more than 3%. Shares of Hyundai Motor popped more than 19% on Friday following an initial report surrounding the Apple deal.
Mainland Chinese stocks also advanced: The Shanghai composite gained 0.37% while the Shenzhen component rose 0.508%.