Asia-Pacific markets traded mixed on Tuesday following a volatile trading session, as investors assess Iran war-related developments with the U.S. deadline for a ceasefire deal approaching.
Japan’s Nikkei 225 eked up 15.88 points to 53,429.56
Markets in Hong Kong were closed for holiday.
U.S. President Donald Trump threatened to target Iran’s civilian infrastructure if a peace deal is not reached by Tuesday 8 p.m. ET, while also signaling that the Iranian leadership was negotiating in earnest.
Trump reiterated his demand for Iran to open the Strait of Hormuz, which would allow traffic to start flowing again through the vital route for global energy supplies — warning the U.S. would decimate every bridge and power plant within four hours of that deadline not being met.
The U.S. and Iran are weighing a framework plan to end their five-week-old conflict, with Tehran pushing back against Trump’s pressure to swiftly reopen the Strait of Hormuz under a temporary ceasefire, and repeating its demand for a lasting end to the war.
Iran has rejected the U.S. ceasefire proposal and floated its own 10 points, including an end to hostilities in the region, a protocol for safe passage through the Strait of Hormuz, lifting of sanctions, and reconstruction, according to Axios.
Trump responded to the proposal, saying that “They made a ... significant proposal. Not good enough, but they have made a very significant step. We will see what happens.”
In other markets
The CSI 300 index on mainland China lost 0.17 to 4,440.62.
In Taiwan, the Taiex zoomed 657.39 points, or 2%, to 33,229.82.
South Korea’s Kospi recovered 44.45 points, or 0.8%, to 5,494.78
In Singapore, the Straits Times Index dipped 14.39 points, or 0.3%, to 5,494.78.
In Australia, the AZX 200 hiked 149.31 points, or 1.7%, to 8,728.80.
In New Zealand, the NZX 50 climbed 167.51 points, or 1.3%, to 13,069.66
