A pedestrian passes by an electronic quote board displaying the Nikkei Stock Average at the Tokyo Stock Exchange on March 23, 2026 in Tokyo.
Kazuhiro Nogi | AFP | Getty Images
Asia-Pacific markets traded mixed on Tuesday after a volatile trading session as investors assessed developments related to the Iran war as the deadline for the US ceasefire agreement approached.
US President Donald Trump has threatened to target Iran’s civilian infrastructure if a peace deal is not reached by 8pm ET on Tuesday, while suggesting that Iranian leaders are in serious negotiations.
President Trump reiterated his call for Iran to open the Strait of Hormuz, allowing traffic to resume on the critical route for global energy supplies, and warned that the United States would destroy all bridges and power plants within four hours if the deadline was not met.
The United States and Iran are considering a framework plan to end the five-week conflict, with Iran pushing back against President Trump’s push to quickly reopen the Strait of Hormuz under a temporary ceasefire and repeating calls for a permanent end to the war.
According to Axios, Iran rejected the US ceasefire proposal and set its own 10-point agenda, including a cessation of hostilities in the region, a protocol for safe passage through the Strait of Hormuz, sanctions relief, and reconstruction.
President Trump responded to the proposal by saying, “They… made an important proposal. It’s not enough, but they took a very important step. Let’s see what happens.”
West Texas Intermediate crude oil futures were up 2.3% at $115 a barrel as of 3:28 p.m. ET. Brent crude rose about 1.5% to $111.37 per barrel.
australian S&P/ASX 200 It rose 1.74% to close at 8,728.8. Japanese Nikkei Stock Average Barely changed, it closed 0.03% higher at 53,429.56, while the composite index TOPIX rose 0.25% to 3,654.02.
Excellent company in Korea Kospi rose 0.82% to 5,494.78, while the small-cap Kosdaq fell more than 1% to end at 1,036.73.
Mainland China’s CSI300 index was unchanged at 4,440.62, with Hong Kong markets remaining closed on Tuesday for Easter.
India’s Nifty 50 rose 0.23%, reversing an earlier decline, following volatile trading in other Asian markets, while the Sensex rose 0.25%.
“As the deadline approaches, (Trump) wants to apply more pressure to get it across the finish line,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management.
However, the sharp market swings caused by the headlines created an opportunity for investors to rebalance their portfolios for long-term gains, Jacobsen said. “When geopolitical concerns hit the market, prices tend to fluctuate indiscriminately, which is when discerning investors can upgrade their portfolios.”
Jacobsen pointed to defense and energy companies as the “primary” post-conflict beneficiaries, but said there are “appropriate entry points” for companies in all industries, including utilities, finance, industrials and technology.
