Asia-Pacific equity markets traded lower on Thursday, pulling back from recent record levels as investors assessed mixed signals from ongoing United States-Iran negotiations alongside a fragile ceasefire environment.
Secretary of State Marco Rubio said discussions with Iran had made “some progress” and reiterated that “we’re going to give it every chance to succeed”, adding that Washington prefers “the negotiated diplomatic route”.
However, President Donald Trump maintained that the United States would not allow Iran to control the key Strait of Hormuz as part of any agreement, keeping geopolitical uncertainty elevated.
By 11:15 am AEST (1:15 am GMT), Australia’s S&P/ASX 200 fell 0.8%, Japan’s Nikkei 225 eased 0.1%, and South Korea’s KOSPI also slipped 0.1%.
In monetary policy developments, the Bank of Korea left its benchmark interest rate unchanged at 2.50% on Thursday, in line with market expectations.
The subdued regional tone followed a modestly positive session on Wall Street, where major U.S. indices extended record territory.
The Dow Jones rose 0.4%, the S&P 500 gained 0.02%, and the Nasdaq Composite added 0.1%.
In commodities, Brent crude oil prices fell 4.6% to US$92.25 per barrel, while spot gold declined 1.1% to US$4,455.48 per ounce, touching its lowest level since 27 March.
In China, equities weakened with the Shanghai Composite Index falling 1.3% to 4,093.7 and the CSI 300 slipping 0.8% to 4,908.2.
Hong Kong’s Hang Seng Index dropped 1.1% to 25,328.2, while India’s BSE Sensex edged down 0.2% to 75,867.8.
European markets delivered a mixed session on Wednesday. The UK’s FTSE 100 rose 0.1% to 10,505.0, Germany’s DAX eased 0.03% to 25,177.8, and France’s CAC 40 gained 0.4% to 8,207.9.
