Asian Shares Mixed and Oil Prices Decline Amid US-Iran Tensions

Asian shares traded mixed on Tuesday, following a modest decline on Wall Street the previous day. The movements came amid uncertainties in talks to end the conflict between the United States and Iran. Oil prices also edged lower, with Brent crude falling 0.4% to $95.10 per barrel and U.S. benchmark crude dropping 0.9% to $86.66 per barrel.

In Tokyo, the Nikkei 225 rose 1.1% to 59,485.54, driven by gains in technology-related companies. Tokyo Electron increased 4.4%, while SoftBank Group Corp. advanced 5.5%. South Korea's Kospi climbed 1.8% to 6,327.73, and Taiwan's Taiex gained 1.7%.

Seng index slipped 0.1% to 26,382.30, and the Shanghai Composite fell 0.3% to 4,068.28. Australia's S&P/ASX 200 declined 0.1% to 8,942.80. These shifts followed a lack of progress in US-Iran negotiations, including the U.S. Navy's seizure of an Iranian-flagged cargo ship.

Officials announced that the vice president would travel to Islamabad, but the Iranian side made no commitment to more talks. Oil prices had risen on Monday due to heightened tensions but remained below earlier peaks, with Brent crude staying under $119 per barrel.

Investor concerns focused on potential disruptions to oil supplies from the Persian Gulf if Iran continues to block tankers in the Strait of Hormuz.

On Monday, the S&P 500 fell 0.2% from its all-time high, the Dow industrials edged less than 0.1% lower, and the Nasdaq composite dropped 0.3%. The S&P 500 remained above its pre-war level. United Airlines shares declined 2.8%, and American Airlines shares fell 4.2% after American stated it was not interested in a merger with United.

TopBuild, a distributor of insulation and building products, rose 19.4% following an announcement that QXO would acquire it in a deal valued at roughly $17 billion. The acquisition is expected to position the combined entity as the continent's second-largest publicly traded building products distributor.

QXO shares fell 3.1%.

S companies reported strong profits for the first quarter of 2026, supporting market stability. About 10% of S&P 500 companies have released results, with nearly 90% exceeding analysts' expectations, according to FactSet. If trends continue, overall earnings per share for the index are estimated to rise 13% from the previous year.

Companies scheduled to report this week include UnitedHealth Group on Tuesday, Tesla on Wednesday, and Procter & Gamble on Friday. In currency trading, the U.S. dollar strengthened to 158.98 Japanese yen from 158.82 yen, while the euro weakened to $1.1782 from $1.1789.

m. Eastern time on Wednesday, which is early Wednesday in Tehran time. The S&P 500's performance has been bolstered by robust corporate earnings amid broader economic resilience.