Asian benchmarks are mixed in cautious trading amid uncertainty about US-Iran ceasefire talks

Asian shares were mixed in cautious trading on Wednesday as investors watched for next steps in the US-Iran conflict. President Donald Trump extended a ceasefire that was set to expire, giving Iran time to submit a proposal to end the war. The move led to a decline in US stock markets, with the S&P 500 falling 0.6% and the Dow Jones Industrial Average dropping 0.6%. Oil prices also fluctuated, with benchmark crude falling 86 cents to $88.81 a barrel. The mixed trading was seen across various Asian benchmarks, including Japan's Nikkei 225 rising 0.4%, South Korea's Kospi adding 0.5%, and Hong Kong's Hang Seng losing 1.2%. The uncertainty surrounding the US-Iran conflict has led to cautious trading in the region.