Oil prices slipped modestly on Tuesday after President Donald Trump announced a postponement of a planned strike on Iran, easing some of the pressure on Asian equities. Brent crude for July delivery dropped 2.04% to $109.81 a barrel, while June WTI fell 1.12% to $107.44, providing a slight reprieve for investors monitoring the Middle‑East conflict.

In Japan, the first‑quarter GDP report surprised to the upside, expanding at an annualised 2.1% versus the 1.7% forecast and up from 1.3% in the previous quarter. Despite the stronger data, the Nikkei 225 slipped 0.45% after an early rally, while the broader Topix managed a 0.54% gain. The market’s attention also turned to a summit later in the day between Prime Minister Sanae Takaichi and South Korean President Lee Jae‑myung.

South Korea’s benchmarks fell sharply, with the Kospi down 3.12% and the small‑cap Kosdaq shedding 3.32%. Australia’s S&P/ASX 200 bucked the trend, rising 1.05%, while China presented a mixed picture: the mainland CSI 300 slipped 0.52% even as Hong Kong’s Hang Seng added 0.41%.

In corporate news, Standard Chartered’s Hong Kong‑listed shares jumped 2.54% after the bank lifted its 2028 return target to 15% and announced a 15% reduction in corporate‑functions staff by 2030. In India, the Nifty 50 rose 0.44% as shares linked to Gautam Adani rallied following the U.S. decision to drop fraud charges, with Adani Enterprises gaining 1.89% and Adani Ports and Adani Green up 0.36% and 1.23% respectively.

U.S. market futures edged higher, with S&P 500 futures up 0.1%, Nasdaq 100 futures up 0.2% and Dow Jones Industrial Average futures gaining 0.05%. In the previous session, the S&P 500 fell 0.07%, the Nasdaq slipped 0.51%, while the Dow rose 0.32%.

Analysts at Moody’s warned that the ongoing stalemate in the Strait of Hormuz and the broader Middle‑East conflict could keep oil volatility high, despite the temporary de‑escalation indicated by the delayed strike.