Asia-Pacific markets mostly fell on Tuesday as oil prices saw choppy trading after a report said that U.S. President Donald Trump was looking to avoid a prolonged conflict in the Middle East.
In Japan, the Nikkei 225 stumbled another 822.13 points, or 1.6%, to 51,063.72.
In Hong Kong, the Hang Seng recovered 37.35 points, or 0.2%, to 24,788.14.
The Wall Street Journal reported on Monday evening stateside that Trump told aides he was willing to end the U.S. military hostilities against Iran even if the Strait of Hormuz remained largely closed.
The West Texas Intermediate futures for May delivery were 0.1% lower at $102.78 U.S. a barrel as of 3:42 a.m. ET. May futures for Brent crude rose 0.24% to $113.05 per barrel, after erasing declines.
Trump and his aides assessed that an operation aimed at reopening the critical chokepoint could prolong the conflict beyond the initial timeline for the war, which was up to six weeks, the WSJ said.
Korean markets were punished, as the Korean won depreciated 0.84% to 1,529.9 against the U.S. dollar, hovering near its weakest level since 2009.
In other markets
In Shanghai, the CSI 300 sank 41.9 points, or 0.9%, to 4,450.05.
In Korea, the Kospi index backpedaled 224.84 points, or 0.2%, to 5,052.46
In Singapore, the Straits Times Index swooned 11.81 points, or 0.2%, to 4,897.26
In Taiwan, the Taiex index stumbled 795.17 points, or 2.5%, to 31,722.99.
In Australia, the ASX gained 20.8 points, or 0.3%, to 8,481.78.
In New Zealand, the NZX 50 regained 163.19 points, or 1.3%, to 12,912.11
