Asia-Pacific markets open lower as Trump extends Iran ceasefire but uncertainty drags on

“Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal,” Trump said in a Truth Social post.

He added that the ceasefire would be extended until Tehran submitted a proposal or discussions were concluded, and that the U.S. military would continue its blockade of Iranian ports.

However, the timeline remains uncertain. Negotiators from Tehran said they wouldn’t attend the talks with the U.S., calling them a “waste of time,” Iranian state media reported on Wednesday.

The uncertainty also delayed Vice President JD Vance‘s trip to join peace talks, according to reports from Axios and The New York Times, citing U.S. officials with knowledge of the situation.

Japan’s Nikkei 225 was down 0.41%, while the Topix lost 0.67%. Japan’s exports rose for a seventh straight month, posting a trade surplus of 667 billion yen ($4.18 billion) in March, compared with a surplus of 1.1 trillion yen forecast, data from Reuters showed. The focus will also be on the Bank of Japan’s policy meeting next week.

South Korea’s Kospi inched 0.16% higher after reaching a record high on Tuesday, while the small-cap Kosdaq slipped 0.42%. Producer prices in March grew at their fastest pace in over three years, supported by higher oil prices amid the conflict in the Middle East, central bank data showed.

Australia’s S&P/ASX 200 was 0.59% lower.

Hong Kong Hang Seng index futures were at 26,221, compared with the index’s last close of 26,487.48.