Asian shares were mixed in cautious trading on Wednesday as investors awaited further developments in US-Iran ceasefire talks after President Donald Trump extended a ceasefire that was due to expire.
Japan's Nikkei 225 rose 0.3% to 59,530.64, while South Korea's Kospi added 0.4% to 6,413.62. However, Australia's S&P/ASX 200 declined 1.2% to 8,841.00, and Hong Kong's Hang Seng lost 1.3% to 26,140.05. The Shanghai Composite edged up 0.3% to 4,096.59.
On Wall Street, the S&P 500 fell 0.6% to 7,064.01 after US Vice President JD Vance cancelled a trip to Pakistan, where he was expected to lead negotiations with Iran. The Dow Jones Industrial Average dropped 0.6% to 49,149.38, and the Nasdaq composite slipped 0.6% to 24,259.96.
Oil prices remained volatile, with benchmark US crude falling 19 cents to $89.48 a barrel and Brent crude losing 12 cents to $98.36. The moves were milder than the severe swings seen earlier in the conflict, when Brent briefly topped $119.
“Trump’s decision essentially extends the uneasy status quo rather than resolving the conflict. While the pause has reduced immediate tail risks, the absence of a genuine breakthrough means traders remain inclined to tiptoe rather than trade with real conviction,” said Tim Waterer, chief market analyst at KCM Trade.
In currency markets, the US dollar edged down to 159.33 Japanese yen from 159.38 yen, while the euro eased to $1.1740 from $1.1744.
