South Korea's benchmark Kospi index climbed to a record high on Tuesday after markets reopened following a public holiday, as investors responded to signs of progress in talks between the U.S. and Iran.
Investor sentiment improved after President Donald Trump said negotiations with Iran were "proceeding nicely," while cautioning that the U.S. could restart attacks if discussions collapsed.
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The remarks came even as tensions in the region remained elevated. The U.S. Central Command said it carried out "self-defense strikes" on Iranian missile launch sites and boats that were attempting to lay mines in the country's southern waters.
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The developments lifted risk sentiment across Asian equities, while investors also tracked gains in U.S. futures ahead of Wall Street's reopening after the Memorial Day holiday.
South Korea's Kospi advanced 2.44% to 8,039.25 in early trade. Japan's Nikkei 225 fell 0.32% to 64,948.49 as investors booked profits after the benchmark crossed the 65,000 mark for the first time in the previous session. Australia's S&P/ASX 200 declined 0.58% to 8,641.60 at the open.
Meanwhile, US stock futures moved higher ahead of Tuesday trading. S&P 500 futures rose 0.78%, Nasdaq-100 futures gained 1.14%, and Dow Jones Industrial Average futures added 371 points, or 0.73%.
US markets were closed on Monday for the Memorial Day holiday.
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