Asian stock markets broadly fell on Monday, with the Nikkei 225 down 2% and South Korean stocks down 1.6%. Oil prices declined as Donald Trump considered exempting some sanctions against Russia, with Brent crude falling 1.6% to $108.06 per barrel. Iran reported another oil tanker hitting a mine in the Strait of Hormuz.

Asian stocks mostly fell on Monday, with the Nikkei 225 down 2%, South Korea's KOSPI down 1.6%, and the MSCI Asia-Pacific Index (excluding Japan) down 0.3%. This was primarily driven by market concerns over the massive financing demand for AI and a weaker euro following unrest in France. Falling oil prices provided support for bonds and Wall Street equity index futures, limiting the decline in Asian stocks. Brent crude futures fell 1.6% to $108.06 per barrel, and U.S. crude futures fell 0.7% to $100.70 per barrel, after U.S. President Donald Trump decided to grant waivers for some sanctions against Russia, although he later stated that no final decision had been made. U.S. Secretary of State Marco Rubio said on Saturday that the President would take 60 days to assess the economic impact of the move. Meanwhile, Iran reported another oil tanker struck a mine in the Strait of Hormuz. Geopolitical tensions and safe-haven flows combined to push sovereign bonds higher, with the 10-year U.S. Treasury yield falling 3 basis points to 5.0645%, after recording its largest weekly drop in over eight months.