Asia-Pacific markets traded mixed on Wednesday as investors assessed recent U.S. military action in Iran, the fragile state of the Washington-Tehran ceasefire and optimism that a deal could still be reached.
Japan’sNikkei 225 closed flat at 64,999.41, giving up gains after hitting a fresh record high, while the Topix declined 0.52%.
South Korea’s Kospi closed 2.52% higher at 8,228.7, while the small-cap Kosdaq declined 3.36% to 1,133.13. Shares of Samsung Electronics rose 2.68% after unionized workers at the company in South Korea approved a provisional wage agreementaverting a potential strike that could have disrupted global semiconductor supply chains.
In Australia, theS&P/ASX 200 was up 0.69%, closing at 8,717.7.
Hong Kong’sHang Seng indexdeclined 1.03% in the final hour of trading, while the mainland CSI 300 was down 0.79% at 4,908.53.
U.S. forces carried out what the Pentagon described as “self-defense” strikes in southern Iran early Tuesday, targeting missile launch sites and Iranian vessels allegedly attempting to deploy mines, even as Washington insisted it was still observing restraint under the ongoing ceasefire framework.
The military action highlighted the fragile truce between Washington and Tehran, with both sides continuing to test limits despite negotiations that the White House has described as nearing completion.
PresidentDonald Trumpsaid Monday that talks with Iran to end the war were “proceeding nicely.” That said, he did warn the U.S. could go on the offensive if negotiations break down.
Overnight on Wall Street, theS&P 500andNasdaq Compositerose to fresh intraday all-time highs on Tuesday, led by technology, as traders weighed the developments in the Middle East.
The broad market S&P 500 gained 0.61% and ended at 7,519.12, while the tech-heavy Nasdaq gained 1.19% to 26,656.18. Both indexes also closed at records. TheDow Jones Industrial Averagelost 118.02 points, or 0.23%, ending at 50,461.68. U.S. stock markets were closed Monday due to the Memorial Day holiday.
— CNBC’s Sean Conlon and Fred Imbert contributed to this report