Asian stocks traded mixed on Tuesday after new U.S. strikes in Iran weakened hopes for a Middle East peace deal, while South Korea’s KOSPI surged to a record high on strong chipmaker gains.
Investor sentiment remained cautious after the United States launched what it described as defensive strikes on missile sites and vessels in southern Iran.
The military action came as negotiations between Washington and Tehran continued in Doha.
Oil prices rebounded after sharp losses in the previous session. Brent crude rose toward $98 a barrel, while U.S. crude traded near $92 as traders monitored risks to shipments through the Strait of Hormuz.
Japan’s Nikkei 225 slipped 0.3% to 64,994.4 points after reaching a record high in the prior session. The broader TOPIX index edged down 0.1%.
China’s Shanghai Composite lost 0.8%, while the CSI 300 index fell 0.3%. Australia’s S&P/ASX 200 declined 0.4%, and Singapore’s Straits Times Index eased 0.3%. India’s Nifty 50 traded largely flat.
Chipmakers Lift South Korean Shares
South Korea’s KOSPI jumped more than 3% to a record 8,131.15 points after markets reopened from a public holiday. Technology and AI-linked shares led the gains.
Samsung Electronics rose about 3%, while SK Hynix climbed nearly 7% as investors continued to favour semiconductor stocks tied to AI demand.
Read: Tokyo Stocks Record High As Oil Falls On Peace Hopes
Hong Kong’s Hang Seng Index gained 0.5% after Chinese chipmakers rallied. The move followed reports that Huawei Technologies unveiled a semiconductor design breakthrough that could reduce China’s reliance on U.S. technology.
Hua Hong Semiconductor surged more than 14%, while Semiconductor Manufacturing International Corp gained around 10%, according to Investing.com market data.
