File photo (Picture credit: AP)
Asian markets traded mixed on Tuesday as investors weighed fresh hopes of possible US-Iran peace talks against lingering geopolitical risks and elevated oil prices, while technology shares lent support to key regional indices.Tokyo’s Nikkei 225 rose 1.1 per cent to 59,485.54, driven by strong gains in technology counters. As per news agency AP, chip-related heavyweight Tokyo Electron climbed 4.4 per cent, while SoftBank Group advanced 5.5 per cent. South Korea’s Kospi jumped 1.8 per cent to 6,327.73, while Taiwan’s Taiex gained 1.7 per cent.In contrast, markets in Greater China remained subdued. Hong Kong’s Hang Seng edged 0.1 per cent lower to 26,382.30, while China’s Shanghai Composite slipped 0.3 per cent to 4,068.28. Australia’s S&P/ASX 200 was down 0.1 per cent at 8,942.80.
Iran talks, oil prices in focus
Investor sentiment remained tied to developments in the US-Iran conflict, with uncertainty over whether talks to end the war will proceed this week.MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9 per cent, as optimism grew that Iran may still attend negotiations in Pakistan. However, markets remained cautious after the US Navy’s seizure of an Iranian cargo ship raised tensions further.Oil prices, though slightly off recent highs, continued to hover at elevated levels. Brent crude slipped 0.4 per cent to around $95.10 a barrel, while US benchmark crude eased 0.9 per cent to $86.66 per barrel. The market continues to watch disruptions around the Strait of Hormuz, a critical route for nearly one-fifth of global oil supply.Overnight, US markets ended slightly lower. The S&P 500 fell 0.2 per cent, the Dow Jones was marginally lower, and the Nasdaq Composite declined 0.3 per cent, snapping a 13-day winning streak.Analysts said the next key trigger for Asian equities will be whether diplomacy prevails before the ceasefire deadline expires, with markets likely to remain volatile until there is greater clarity.
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