Asian Stocks Mixed Amid U.S.-Iran Ceasefire Extension

Asian stock markets showed mixed results on Wednesday amid cautious trading, as investors monitored developments in the U.S.-Iran conflict following President Donald Trump's decision to extend a ceasefire that had been due to expire. The extension aims to allow Iran time to present a proposal for ending the war.

Japan's Nikkei 225 index climbed 0.3 percent to close at 59,530.64, while South Korea's Kospi added 0.4 percent to 6,413.62 and China's Shanghai Composite rose 0.3 percent to 4,096.59. In contrast, Australia's S&P/ASX 200 fell 1.2 percent to 8,841, and Hong Kong's Hang Seng dropped 1.3 percent to 26,140.05. The uneven performance reflected investor uncertainty over the conflict's trajectory.

U.S. markets also ended lower, with the S&P 500 declining 0.6 percent to 7,064.01 after an early gain evaporated. The Dow Jones Industrial Average shed 0.6 percent to 49,149.38, and the Nasdaq composite fell 0.6 percent to 24,259.96. The downturn accelerated after U.S. Vice President JD Vance canceled a planned trip to Pakistan, where he was set to lead negotiations with Iranian representatives on extending the ceasefire. Trump announced the extension less than 10 minutes after the...