Asia-Pacific markets exhibited a mixed performance on Tuesday, as oil prices, although still high, experienced a slight decline following the announcement that President Donald Trump was delaying a planned military action against Iran. International benchmark Brent crude futures for July delivery experienced a decline of 1.3%, trading at $110.60 per barrel as of 4:25 am. West Texas Intermediate futures experienced a decrease of 0.06%, settling at $108.59 per barrel. Investors were evaluating Japan’s first-quarter GDP data, which indicated the economy expanded at an annualized rate of 2.1% during the initial three months of the year. The growth exceeded the average estimate of 1.7% from analysts, contrasting with the 1.3% recorded in the preceding quarter. The presented figures fail to encompass the comprehensive effects of the conflict in Iran, which commenced at the conclusion of February.

Japan’s Nikkei 225 relinquished its initial advances, ultimately finishing 0.44% down at 60,550.59. The upcoming summit meeting between Japan’s Prime Minister Sanae Takaichi and South Korea’s President Lee Jae Myung is set to attract significant attention later today. South Korea’s Kospi continued its downward trajectory, declining more than 3% to 7,271.66. Australia’s S&P/ASX 200 concluded the session with an increase of 1.17%, reaching a level of 8,604.70. Mainland China’s CSI 300 index experienced an increase of 0.4%, reaching 4,852.88, whereas Hong Kong’s Hang Seng index saw a gain of 0.48%, climbing to 25,797.85. India’s Nifty 50 experienced an increase of 0.18%. Equities linked to Gautam Adani experienced an uptick following the dismissal of fraud allegations by U.S. authorities against the Indian billionaire. Adani Enterprises experienced an increase of 1.79%, whereas Adani Green saw a rise of 1.81%.

In a recent post on Truth Social, Trump indicated that U.S. military leaders received instructions to cancel a “scheduled attack on Iran tomorrow” following appeals from the leaders of Qatar, Saudi Arabia, and the United Arab Emirates. “A deal will be reached that will be highly favorable to the United States of America, as well as to all countries in the Middle East and beyond. This agreement will, crucially, exclude nuclear weapons for Iran,” Trump added. Trump has indicated that he has advised his military leaders “to be prepared to go forward with a full, large scale assault of Iran, on a moment’s notice, in the event that an acceptable Deal is not reached.” In light of the tenuous ceasefire established between the U.S. and Iran, the critical Strait of Hormuz remains obstructed by Tehran, as the U.S. persists in its blockade of Iranian ports. “As the Middle East conflict enters its third month, there is little prospect of a swift and durable settlement between the U.S. and Iran and with it the full reopening of the Strait of Hormuz,” Moody’s stated in a note.

Futures associated with the S&P 500 experienced an increase of 0.1%, whereas Nasdaq 100 futures saw a rise of 0.2%. Futures for the Dow Jones Industrial Average increased by 25 points, representing a 0.05% rise. In the regular session on Monday, the S&P 500 benchmark experienced a decline of 0.07%, concluding at 7,403.05. Meanwhile, the Nasdaq, which is heavily weighted towards technology, fell by 0.51%, closing at 26,090.73. Both indexes experienced declines for the second consecutive day. The Dow Jones Industrial Average closed up 159.95 points, or 0.32%, at 49,686.12.