Asian markets mixed as chip stocks weigh on Seoul

Asian markets traded mixed on Tuesday as investors showed caution ahead of Nvidia's quarterly results, due Wednesday after the US market close. Technology shares, particularly AI-related ones, declined in Seoul, with SK Hynix falling 3.6% and Samsung Electronics dropping 1.8%. The Iran conflict continued to weigh on sentiment, with US Treasury Secretary Scott Bessent announcing new measures to isolate the Iranian regime. Analysts suggested China, Iran's main trading partner, may resist US pressure, potentially threatening the trade truce between Washington and Beijing ahead of September's summit. In regional indexes, Tokyo's Nikkei gained 0.3%, Sydney rose 0.6%, while Hong Kong fell 0.3% and Seoul's Kospi slipped 0.2%. Australian retailer Coles advanced 2.8% after reporting earnings, while Woodside Energy declined 0.9%.