SEOUL, SOUTH KOREA – MARCH 05: A currency dealer works in front of an electronic screen showing South Korea’s benchmark stock index (KOSPI) in a foreign exchange dealing room at the Hana Bank headquarters on March 05, 2026 in Seoul, South Korea. The latest flare-up in the Iran conflict has hammered export‑reliant markets in South Korea and Japan, knocking benchmark indexes sharply lower on fears that surging energy costs and a prolonged hit to risk appetite could undercut corporate earnings and growth across Asia’s trade‑driven economies. (Photo by Han Myung-Gu/Getty Images)
Han Myung-gu | Getty Images News | Getty Images
Asia-Pacific markets looked set for a largely higher open on Wednesday, with comments from U.S. President Donald Trump pointing to potential talks with Iran lifting sentiment, even as Tehran has denied any direct negotiations with Washington.
Speaking at the Oval Office on Tuesday, Trump said the U.S. and Iran were “in negotiations right now” and suggested Tehran was keen to strike a peace deal, adding he had stepped back from threats to target Iranian energy infrastructure “based on the fact we’re negotiating.”
Australia’s S&P/ASX 200 rose over 1.26% in early trade.
Japan’s Nikkei 225 was poised to jump, with the Chicago contract at 53,180 and the futures contract in Osaka at 53,030 compared to the index’s previous close of 52,252.28.
However, the Hong Kong Hang Seng index futures were at 24,972 compared with the index’s last close of 25,063.71.
Oil prices were lower in early Asia trading hours. West Texas Intermediate crude futures were down 3.92% at $88.73 per barrel.
Overnight in the U.S., the S&P 500 pulled back, giving back some of the sharp gains seen in the previous session, as crude prices rose again while the Iran war moved further into its fourth week.
The broad market index lost 0.37% and ended at 6,556.37, while the Dow Jones Industrial Average shed 84.41 points, or 0.18%, and settled at 46,124.06. The Nasdaq Composite dropped 0.84% and closed at 21,761.89.
—CNBC’s Sean Conlon and Lisa Kailai Han contributed to this report.