Asia-Pacific markets traded mixed on Tuesday as oil prices, although elevated, fell slightly after news that President Donald Trump was delaying a planned attack on Iran.
International Brent crude futures for July delivery were down 2.04% at $109.81 a barrel as of 12:14 a.m. ET. West Texas Intermediate crude futures for June were down 1.12% at $107.44 a barrel.
Investors were evaluating Japan’s GDP data for the first quarter, which showed the economy grew at an annual rate of 2.1% in the first three months of the year. Growth was significantly higher than the average estimate of 1.7% among analysts polled by Reuters, and up from 1.3% in the previous quarter. These figures do not include the full impact of the war with Iran, which began at the end of February, reports SEEbiz.
Japan’s Nikkei 225 gave up early gains to fall 0.45%, while the Topix added 0.54%.
The summit between Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung later today will also be in focus. South Korea’s Kospi extended its early losses, falling 3.12%, while small company Kosdaq fell 3.32%.
Australia’s S&P/ASX 200 rose 1.05%.
Mainland China’s CSI 300 index fell 0.52%, while Hong Kong’s Hang Seng added 0.41%.
Shares in Hong Kong-listed Standard Chartered rose 2.54% after the lender raised its target yield for 2028 to 15%, up 3 percentage points from 2025. The bank also plans to reduce its holdings in corporate functions by 15% by 2030.
India’s Nifty 50 rose 0.44%. Shares of firms linked to Gautam Adani rose after the US dropped fraud charges against the Indian billionaire. Adani Enterprises rose 1.89%, while Adani Ports and Adani Green added 0.36% and 1.23% respectively.
