Asian stocks were subdued on Wednesday as technology shares retreated, while Japan’s benchmark index edged up to a record high as investors weighed the implications of U.S. President Donald Trump’s extension of the Iran ceasefire.
U.S. stock index futures rose in Asian trading after Trump’s announcement. Wall Street ended lower overnight.
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Nikkei hits record high; tech stocks retreat South Korea’s KOSPI edged down 0.3% on Wednesday after hitting record highs in the prior session.
Technology stocks came under pressure following overnight weakness on Wall Street, where major U.S. indexes retreated amid persistent geopolitical uncertainty and profit-taking in high-growth sectors.
Hong Kong’s Hang Seng declined 1.4%, with the Hang Seng TECH sub-index dropping 2%.
Japan’s Nikkei 225 rose 0.5% to hit record levels of 59,708.21 points, while the broader TOPIX index edged fell 0.7%.
Official figures showed Japan’s exports rose 11.7% year-on-year in March, marking a seventh straight month of expansion and exceeding expectations for an 11% increase.
Imports climbed 10.9%, also beating forecasts, reflecting resilient domestic demand and higher energy costs.
Trump extends Iran ceasefire; Warsh’s Fed hearing in focus Investor focus remained firmly on developments in the Middle East after Trump said the U.S. would extend a ceasefire with Iran indefinitely.
While the move offered some relief to markets, uncertainty over Iran’s acceptance, stalled negotiations, and the continued disruption in the Strait of Hormuz kept sentiment in check.
Analysts said markets had largely anticipated the ceasefire extension, limiting any strong risk-on reaction. Instead, investors remained cautious, awaiting clearer signals on whether diplomatic talks would resume and whether key energy routes would reopen.
China’s Shanghai Composite index and the blue-chip Shanghai Shenzhen CSI 300 edged up 0.2% each.
Elsewhere, Australia’s S&P/ASX 200 fell 1%, while Singapore’s Straits Times Index edged 0.4% lower.
India’s Nifty 50 fell 0.5%.
Investor attention also turned to Washington, where Federal Reserve chair nominee Kevin Warsh testified before lawmakers.
Warsh emphasized the importance of central bank independence and said he had made no promises to President Donald Trump about cutting interest rates.
