Asian markets trade higher on U.S.-Iran talks, lower oil prices

Asian markets moved higher in early Wednesday trading, according to Mettis Global, as lower oil prices and fresh hopes of a diplomatic route in the U.S.-Iran conflict lifted sentiment. South Korea's Kospi rose 1.79 per cent at the open, while the small-cap Kosdaq added 0.84 per cent. Australia's S&P/ASX 200 advanced 0.34 per cent, and Japan stayed shut for a public holiday.

Sentiment firmed after President Trump characterised a roughly three-hour session between American and Iranian officials in glowing terms. Those discussions lifted hopes that the two capitals might seek a negotiated settlement. Crude benchmarks, Brent and West Texas Intermediate, each slipped roughly 1 per cent as the session progressed.

US Treasury Secretary Scott Bessent said Washington was weighing a limit on diesel exports, with refining capacity cited as the concern. Nationally, diesel had reached an average of $6.53 per gallon, according to AAA. Earnings releases from General Mills, Paychex and H.B. Fuller are also on the agenda for Wednesday.