Asia-Pacific markets traded mixed on Tuesday as investors assessed developments in US-Iran talks.
US President Donald Trump and his national security team on Monday discussed an alleged Iranian offer to reopen the Strait of Hormuz, contingent on the US lifting the blockade and ending the conflict, according to a statement from White House spokeswoman Caroline Leavitt.
It remains unclear whether Trump, who has said sanctions relief will come only after the deal is “100% complete,” is willing to consider the proposal as a path to de-escalation in the two-month conflict.
“I will confirm that the president met with his national security team this morning,” Leavitt said at a press briefing Monday afternoon when asked about the reports.
Japan’s Nikkei 225 declined 0.49% after hitting a record high on Monday, while the Topix added 0.23%. South Korea’s Kospi rose more than 1% to hit a new record high, while the small-cap Kosdaq fell 0.92%.
Japan’s central bank kept its benchmark interest rate steady at 0.75% on Tuesday, while revising its inflation estimates upward as war with Iran raises supply-side risks.
In Australia, the S&P/ASX 200 lost 0.58%.
Hong Kong’s Hang Seng index lost 0.48%, while the CSI 300 fell by 0.22%, SEEbiz reports.
Shares of Chinese optical computing company Lightelligence surged more than 380% in their debut on Tuesday.
