Asian markets trade higher on U.S.-Iran talks, lower oil prices

September 23, 2026 (MLN): Asian markets traded higher in early Wednesday trading, supported by easing oil prices and renewed hopes for a diplomatic resolution to the U.S.-Iran conflict following talks between the two countries.

South Korea’s Kospi rose 1.79% at the open, while the small-cap Kosdaq gained 0.84%. Australia’s S&P/ASX 200 advanced 0.34%. Japan’s markets remained closed for a public holiday.

Hong Kong’s Hang Seng index futures stood at 25,133, compared with the previous close of 25,087.75. S&P/ASX 200 futures were at 8,822, while the index had closed at 8,757.80, according to CNBC.

Investor sentiment improved after U.S. President Donald Trump said American and Iranian officials held a meeting lasting around three hours, describing it as a “very good meeting.” The talks raised expectations that Washington and Tehran could pursue a diplomatic solution to the conflict.

In the previous session, the Kospi gained 0.41%, while the Kosdaq rose 0.95%. Hong Kong’s Hang Seng index declined 0.76%, while mainland China’s CSI 300 fell 0.50%. The S&P/ASX 200 was 0.15% higher.

Oil prices eased during the session, with both Brent crude and West Texas Intermediate declining by around 1%.

U.S. Treasury Secretary Scott Bessent said Washington is considering whether to restrict diesel exports, citing concerns over refining capacity. Diesel prices had reached a national average of $6.53 per gallon, according to AAA.

Trump said Tuesday that U.S. and Iranian officials met for three hours during the annual United Nations General Assembly in New York. Earlier in his U.N. address, he said he faced a major decision over whether to reach a deal with Tehran or take military action.

Investors will also monitor earnings reports from General Mills, Paychex and H.B. Fuller during Wednesday’s session.

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