Asia markets mixed amid U.S. Iran uncertainty

April 28, 2026 (MLN): Asia markets traded mixed on Tuesday as investors assessed ongoing developments in U.S.-Iran negotiations.

Donald Trump met with his national security team on Monday to discuss Iran’s reported proposal to reopen the Strait of Hormuz, contingent on the U.S. lifting its blockade and ending the conflict, according to White House Press Secretary Karoline Leavitt, according to CNBC.

It remains uncertain whether Trump will consider the proposal, as he has previously stated that sanctions relief would only be granted once a deal is “100% complete.”

Japan’s Nikkei 225 fell 0.49% after hitting a record high in the previous session, while the Topix rose 0.23%. South Korea’s Kospi gained over 1% to reach a fresh record high, whereas the Kosdaq declined 0.92%.

The Bank of Japan kept its policy rate unchanged at 0.75% and raised its inflation forecasts, citing supply-side risks linked to the Iran conflict.

Australia’s S&P/ASX 200 dropped 0.58%. Hong Kong’s Hang Seng Index fell 0.48%, while China’s CSI 300 eased 0.22%.

Shares of Lightelligence surged more than 380% on debut after raising HK$2.53 billion through the sale of 13.8 million shares at HK$183.20 each.

Meanwhile, Contemporary Amperex Technology fell 7% after launching a roughly $5 billion share offering in Hong Kong.

U.S. futures edged higher, with Dow Jones Industrial Average futures up 0.12%, S&P 500 futures gaining 0.14%, and Nasdaq-100 futures rising 0.15%.

Overnight, the S&P 500 and the Nasdaq Composite closed at record highs, rising 0.12% and 0.20%, respectively, while the Dow Jones Industrial Average slipped 0.13%.

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