Asian Markets Trade Mostly Higher

(RTTNews) - Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid renewed optimism over the Middle East conflict after Iran and Israel agreed to halt attacks against each other following a recent escalation in violence. US President Donald Trump also said both sides were seeking an immediate ceasefire and that final negotiations were moving forward. Asian markets closed mostly lower on Monday.

Israeli Prime Minister Benjamin Netanyahu said Israel is pausing strikes on Iran for now but will retaliate if Tehran attacks again, while Iranian media echoed a similar stance.

Meanwhile, Trump hinted via Truth Social that final negotiations on U.S.-Iran peace talks are proceeding and that he expected things to move quickly. However, Trump asserted that the naval blockade on Iranian ports enforced by U.S. Navy will remain in place until an agreement is reached.

The U.S.-Israel versus Iran war entered day number 103 today.

The Australian stock market is modestly lower on Tuesday, extending the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling below the 8,600 level, with weakness across most sectors led by mining and technology stocks.

The benchmark S&P/ASX 200 Index is losing 42.50 points or 0.40 percent to 8,582.60, after hitting a low of 8,490.00 earlier. The broader All Ordinaries Index is down 53.10 points or 0.60 percent to 8,802.80. Australian stocks closed notably lower on Friday ahead of the holiday on Monday.

Among the major miners, Fortescue is declining almost 3 percent, while Rio Tinto, Mineral Resources and BHP Group are declining more than 2 percent each.

Oil stocks are mixed. Santos is gaining 1.5 percent, while Beach energy and Origin Energy are edging down 0.1 to 0.5 percent each. Woodside Energy is flat.

Among tech stocks, Afterpay owner Block is edging up 0.5 percent and Zip is gaining almost 1 percent, while WiseTech Global is tumbling almost 4 percent, Xero is declining almost 2 percent and Appen is slipping almost 3 percent.

Gold miners are mostly lower. Evolution Mining is slipping almost 5 percent, Resolute Mining is tumbling more than 6 percent, Northern Star Resources is losing more than 4 percent, Genesis Minerals is declining almost 6 percent and Newmont is sliding more than 5 percent.

Among the big four banks, ANZ Banking is declining almost 1 percent, while National Australia Bank and Westpac is slipping more than 1 percent each. Commonwealth Bank is edging up 0.2 percent.

In economic news, Australia's Westpac-Melbourne Institute Consumer Sentiment Index dropped 3.5 percent r-month to 80.6 in June 2026, reversing May's gain and marking its fourth decline this year.

Meanwhile, Australia's NAB Business Confidence Index rose to -14 in May from -24 in the prior month, marking its highest print since February and signaling modest improvement from very weak levels. Confidence, however, remained firmly negative. Business conditions held at 3, halting a four-month slide as activity stabilized despite softer demand.

In the currency market, the Aussie dollar is trading at $0.705 on Tuesday.

The Japanese stock market is trading significantly higher on Tuesday after briefly dipping in to the red, snapping a three-session losing streak, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving above the 64,650 level, with gains in automakers, financial and technology stocks partially offset by weakness in index heavyweights.

The benchmark Nikkei 225 Index closed the morning session at 64,654.22, up 629.62 points or 0.98 percent, after hitting a low of 63,918.96 and a high of 65,042.43 earlier. Japanese shares ended sharply lower on Monday.

Market heavyweight SoftBank Group is declining almost 3 percent and Uniqlo operator Fast Retailing is losing more than 1 percent. Among automakers, Honda is adding almost 2 percent and Toyota is gaining almost 1 percent.

In the tech space, Advantest is gaining more than 1 percent, Screen Holdings is advancing almost 3 percent and Tokyo Electron is surging more than 5 percent.

In the banking sector, Sumitomo Mitsui Financial and Mizuho Financial are gaining more than 1 percent each, while Mitsubishi UFJ Financial is advancing almost 2 percent.

The major exporters are mixed. Mitsubishi Electric is gaining more than 1 percent and Panasonic is advancing almost 4 percent, while Canon is edging down 0.1 percent and Sony is losing more than 2 percent.

Among the other major gainers, Kikkoman is surging almost 5 percent, JTEKT is advancing more than 4 percent and Ibiden is gaining almost 3 percent, while T&D Holdings, Mitsui O.S.K. Lines, Kawasaki Kisen Kaisha and Nichirei are adding almost 3 percent each.

Conversely, Sumco is tumbling more than 5 percent, while Mitsui Kinzoku and Mercari are sliding almost 4 percent each. Sumitomo Metal Mining, TDK, Omron, Socionext, Yaskawa Electric and Tokuyama are slipping more than 3 percent each, while Nitto Denko, Sharp, Japan Steel Works, Dowa Holdings and Konami Group are declining almost 3 percent each.

In economic news, the M2 money stock in Japan was up 2.5 percent on year in May, the Bank of Japan said on Tuesday - coming in at 1,298.1 trillion yen. That follows the 2.3 percent annual increase in April and the 2.0 percent gain in March.

The M3 money stock was up 1.7 percent at 1,642.4 trillion yen, while M1 rose 0.3 percent to 1,102.9 trillion yen. The L money stock jumped an annual 4.7 percent to 2,334.5 trillion yen.

In the currency market, the U.S. dollar is trading in the lower 160 yen-range on Tuesday.

Elsewhere in Asia, South Korea and Taiwan are surging 3.4 and 1.9 percent, respectively. New Zealand, China, Singapore and Indonesia are higher by between 0.3 and 0.9 percent each. Malaysia is bucking the trend and is down 0.3 percent. Hong Kong is relatively flat.

On Wall Street, stocks showed a strong move back to the upside in early trading on Monday following Friday's sell-off but gave back ground over the course of the sessions. The major averages pulled back well off their highs of the session, with the Dow dipping into negative territory.

After surging by as much as 1.8 percent, the tech-heavy Nasdaq ended the day up 220.23 points or 0.9 percent at 25,929.66. The S&P 500 also rose 21.99 points or 0.3 percent to 7,405.73, but the narrower Dow slipped 80.77 points or 0.2 percent to 50,786.01.

Meanwhile, the major European markets all moved to the downside on the day. The German DAX Index slid by 0.6 percent and the French CAC 40 Index dipped 0.2 percent, although the U.K.'s FTSE Index bucked the downtrend and inched up by 0.1 percent.

Crude oil prices edged higher on Monday as delays in the reopening the Strait of Hormuz persists. West Texas Intermediate crude for July delivery was up $0.52 or 0.57 percent at $91.06 per barrel.