Asia-Pacific Markets Mixed Amid US-Iran Tensions and Ceasefire Uncertainty

Asia-Pacific markets traded mixed on Wednesday as investors assessed recent U.S. military action in Iran, the fragile state of the Washington-Tehran ceasefire and optimism that a deal could still be reached. Japan's Nikkei 225 closed flat at 64,999.41, giving up gains after hitting a fresh record high, while the Topix declined 0.52%. South Korea's Kospi closed 2.52% higher at 8,228.7, while the small-cap Kosdaq declined 3.36% to 1,133.13. Shares of Samsung Electronics rose 2.68% after unionized workers at the company in South Korea approved a provisional wage agreement, averting a potential strike that could have disrupted global semiconductor supply chains. In Australia, the S&P/ASX 200 was up 0.69%, closing at 8,717.7. Hong Kong's Hang Seng index declined 1.03% in the final hour of trading, while the mainland CSI 300 was down 0.79% at 4,908.53. U.S. forces carried out what the Pentagon described as "self-defense" strikes in southern Iran early Tuesday, targeting missile launch sites and Iranian vessels allegedly attempting to deploy mines, even as Washington insisted it was still observing restraint under the ongoing ceasefire framework. The military action highlighted the fragile truce between Washington and Tehran, with both sides continuing to test limits despite negotiations that the White House has described as nearing completion.