Asia-Pacific markets traded mixed on Tuesday after United States President Donald Trump said talks with Iran were underway and described them as Tehran’s “last chance” to secure a favourable agreement to end the U.S.-Iran war.
Iran, however, denied that negotiations had taken place or were planned.
By 11:50 am AEST (1:50 am GMT), Australia's S&P/ASX 200 was trading 0.9% higher, Japan's Nikkei 225 had fallen 0.6%, and South Korea's KOSPI 200 was up 0.1%.
Among data releases, South Korea's consumer inflation eased to a three-month low in July, coming in below market expectations as lower oil prices weighed on prices, although policymakers remained cautious over potential upward pressures and markets continued to consider the possibility of another rate hike this month.
The consumer price index (CPI) rose 2.8% in July from a year earlier, slowing from a 3.2% increase in June, according to data from the Ministry of Data and Statistics.
Markets had expected inflation to rise 3%.
Separately, Australian household spending increased 0.8% in June 2026, according to seasonally adjusted figures released by the Australian Bureau of Statistics (ABS).
The increase followed a 1.2% rise in May and a 1.0% decline in April.
ABS head of business statistics Tom Lay said: “The 0.8% rise in June was driven by discretionary spending rising for the second month in a row at 1.2%, thanks to continued strength in Transport and Recreation and culture.”
“New Vehicle sales were the standout within Transport this month, driving a 3.0% rise,” Mr Lay said.
“Electric vehicle sales increased significantly over the year and have continued that trend in June, accounting for a growing share of overall new vehicles sales as households adjust their spending behaviour in response to rising fuel prices.”
In the U.S. on Monday, major benchmarks closed higher, with the Dow Jones Industrial Average rising 1.3% to a record high, the S&P 500 gaining 1.5%, and the Nasdaq Composite advancing 2.1%.
In commodities, ICE Brent crude fell 4.7% to US$83.77 per barrel, while spot gold edged 0.1% higher to settle at US$4,054.85 per ounce.
In China, the SSE Composite Index declined 0.6% to 3,809.7, while the CSI 300 gained 0.9% to 4,588.2.
Hong Kong's Hang Seng Index rose 0.5% to 26,009.4, closing at its highest level since 2 June, while India's BSE Sensex advanced 0.7% to 78,639.0, its highest close since 22 April.
European markets ended mixed on Monday. The UK's FTSE 100 slipped 0.1% to 10,857.7, Germany's DAX climbed 1.5% to a fresh record high of 26,001.3, and France's CAC 40 advanced 1.2% to 8,613.8.
