Asian Stock Markets Volatile After Trump Cancels Mission to Iran

Asian-Pacific stock markets were volatile at the market opening on Monday, 26 April 2026. Index movements were overshadowed by geopolitical tensions due to a diplomatic setback between the United States (US) and Iran, though investors disregarded the situation. Market sentiment remained intact despite US President Donald Trump cancelling plans to send Washington envoys Steve Witkoff and Jared Kushner to Islamabad, Pakistan, on Saturday, 25 April 2026. They had been tasked with negotiating with Iran. “Too much time wasted on travelling, too much work! Additionally, there is extraordinary disagreement and confusion within their ‘leadership’,” Trump wrote in a post on Truth Social. Tensions in the Strait of Hormuz remain high, particularly after reports that Iran’s Revolutionary Guard boarded two cargo ships near that strategic sea route. According to CNBC International, Japan’s Nikkei 225 index soared 1.4% to reach an all-time high. Similarly, South Korea’s Kospi index hit a new peak after jumping around 1.83%. In Australia, the S&P/ASX 200 index weakened 0.54% at the start of trading. On mainland China, Hong Kong’s Hang Seng Index also fell 0.17%. The CSI 300 index on mainland China rose 0.25% after China’s industrial profits in the first quarter of 2026 surged 15.8% year-on-year.