Asia-Pacific markets traded mixed Tuesday as oil prices, while elevated, eased slightly following news that U.S. President Donald Trump was postponing a scheduled attack on Iran.
In Japan, the Nikkei 225 index dumped 265.36 points, or 0.4%, to 60,559.59.
Investors were assessing Japan’s first-quarter GDP data, which showed the economy grew at an annualized 2.1% in the first three months of the year. The growth was sharply higher than the Reuters-polled analysts’ average estimate of 1.7%, and against the 1.3% in the previous quarter. These figures do not capture the full impact of the Iran war, which started at the end of February.
A summit meeting between Japan’s Prime Minister Sanae Takaichi and South Korea’s President Lee Jae Myung later today will also be in focus.
In Hong Kong, the Hang Seng poked ahead 19.36 points, or 0.4%, to 25,797.85.
International benchmark Brent crude futures for July delivery fell 1.3% to trade at $110.60 U.S. per barrel. West Texas Intermediate futures declined 0.06% to $108.59 per barrel.
Trump said in a Truth Social post that U.S. military leaders were informed to call off a “scheduled attack of Iran tomorrow” after requests from the leaders of Qatar, Saudi Arabia and the United Arab Emirates.
“A Deal will be made, which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond. This Deal will include, importantly, NO NUCLEAR WEAPONS FOR IRAN!,” Trump added.
However, Trump cautioned that he has informed his military leaders “to be prepared to go forward with a full, large scale assault of Iran, on a moment’s notice, in the event that an acceptable Deal is not reached.”
In other markets;
In Shanghai, the CSI 300 index gained 19.36 points, or 0.4%, to 4,852.88.
In Taiwan, the Taiex tumbled 716.26 points, or 1.8%, to 40,175.56
In Korea, the Kospi waned 244.38 points, or 3.3%, to 7,271.66.
In Singapore, the Straits Times 50 index regained 75.59 points, or 1.5%, to 5,072.34.
In New Zealand, the NZX 50 jumped 211.4 points, or 1.7%, to 12,974.32.
In Australia, the AZX 200 hiked 99.39 points, or 1.2%, to 8,604.70.
