Asian stock markets were mixed on Tuesday as investors weighed developments in US-Iran negotiations. The MSCI Asia Pacific Index was up 0.2%.
South Korea's benchmark Kospi clinched another record high after surging 1.3%. This was the 11th consecutive session of gains. The index is up 63% year-to-date. The combined market capitalisation of listed firms in Korea surpassed the 6000 trillion won ($4.07 trillion) mark for the first time on Monday.
Japan's blue-chip Nikkei 225 Index declined 0.6% to below 60,200, retreating from recent record highs as investors positioned cautiously ahead of the Bank of Japan's latest policy decision. The broader Topix was up 0.7%
The central bank is broadly expected to keep its benchmark rate unchanged as policymakers balance heightened inflationary pressures against growth risks linked to the Middle East conflict. The Japanese yen held steady at 159.34 against the dollar.
In Australia, the S&P/ASX 200 lost 0.6%. Hong Kong Hang Seng index futures were at 25,670.50, lower than the index's last close of 25,925.65.
READ ALSO: Brent Crude Holds Steady At $108 As US Weighs Iran Proposal, Hormuz Stays Shut
Oil Prices
Oil prices held firm at elevated levels as the US assessed a fresh proposal from Iran, even as the Strait of Hormuz remained effectively shut, keeping global supply concerns intact. Brent crude for June settlement was unchanged at $108.23 a barrel, with the more active July contract at $101.95, while WTI for June delivery rose 0.3% to $96.65. The benchmarks have climbed sharply in recent sessions as traders price in prolonged disruption.
Wall Street
US index futures edged higher, with contracts for Dow Jones Industrial Average adding 0.14% or 70 points. S&P 500 futures rose 0.14%, while Nasdaq 100 futures was flat.
Overnight in New York, the S&P 500 and the Nasdaq Composite rose to new record highs. The broad market index added 0.12% and closed at a record level of 7,173.91. The Nasdaq Composite gained 0.2% and notched a closing record of 24,887.10. Both indexes also reached new all-time highs in the session. The Dow Jones Industrial Average fell 62.92 points, or 0.13%.
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