European defense stocks experienced a cooling period as investors reassessed the performance of companies that had previously benefited from wartime conditions. The shift reflects changing market sentiment toward defense contractors that had seen significant gains during periods of heightened military activity.

Meanwhile, oil trading giant Vitol reported profits of approximately $2 billion in the first quarter despite facing losses related to ongoing conflicts. The results demonstrate the complex impact of geopolitical tensions on energy markets, where trading companies can maintain strong performance even while experiencing specific war-related setbacks.

In shipping developments, an oil tanker departed from the Strait of Hormuz with a destination of South Korea's HD Hyundai Oilbank, according to tracking data. The movement represents continued energy trade flows through the strategically important waterway despite regional tensions.

Technology expansion continued in Southeast Asia as Chinese telecommunications equipment maker Huawei signed an agreement with Vietnamese bank SHB to expand its presence in Vietnam. The deal reflects ongoing efforts by technology companies to strengthen their foothold in emerging markets.

Japan's defense sector saw positive momentum as Mitsubishi Heavy Industries shares rose nearly 4% following the company's first-ever warship export deal. The agreement marks a significant milestone for Japan's defense industry as the country expands its military equipment exports under revised security policies.