Asian shares mixed as oil falls after Trump cites good U.S.-Iran meeting

  • Asian shares traded mixed after Trump said U.S. and Iranian officials held a good meeting.
  • Brent crude fell 0.9% to $98.40 per barrel.
  • Japan's Nikkei 225 closed Wednesday for a holiday and resumes trading Thursday.

Asian shares traded unevenly Wednesday as Wall Street remained close to record levels and oil prices declined after U.S. President Donald Trump said United States and Iranian officials had a "very good" meeting Tuesday on the sidelines of the United Nations. U.S. futures moved higher. South Korea's Kospi rose 0.5% to 7,052.75, while Hong Kong's Hang Seng fell 0.8% to 24,896.04 and the Shanghai Composite declined 0.4% to 3,938.08. Australia's S&P/ASX 200 gained 0.3% to 8,779.80, Taiwan's Taiex advanced 0.6% and India's Sensex added 0.3%. Japan's Nikkei 225 was closed for a holiday and is scheduled to resume trading Thursday. Brent crude, the international oil benchmark, fell 0.9% to $98.40 a barrel, although it remained above its roughly $72 late-February level before the Iran war. Trump said the meeting followed his warning at the U.N. General Assembly that the U.S. might "annihilate" the Islamic Republic if no deal could be reached. Asian technology shares were volatile but generally higher after U.S. technology stocks advanced. Samsung Electronics rose 2.6%, SK Hynix gained 0.4% and Taiwan Semiconductor Manufacturing Co. climbed 1.2%. Investors are also watching U.S. debate over whether to slow artificial-intelligence development, while AI is expected to feature prominently in Trump's meeting with Chinese President Xi Jinping in Washington this week. The S&P 500 slipped less than 0.1% Tuesday, the Dow Jones Industrial Average fell 0.4%, and the technology-heavy Nasdaq composite rose 0.5% to a record close. Nvidia gained 0.7%, Advanced Micro Devices rose 1.3%, Broadcom added 0.5% and Intel climbed 1.7%. The U.S. dollar rose to 157.59 Japanese yen from 157.39 yen, while the euro traded at $1.1427, down from $1.1449.

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