Asian markets were mixed as oil prices eased on hopes of a US-Iran deal, though elevated crude levels capped investor appetite for risk, AFP reports.

Energy markets held centre stage after US President Donald Trump signalled “serious negotiations” with Tehran and called off planned strikes.

Oil dipped on the prospect of diplomacy, but the move offered only limited relief after weeks of volatility driven by the Middle East conflict.

International benchmark Brent was hovering around $109 while West Texas Intermediate at $107.

Equity performance wavered. Tokyo’s Nikkei 225 opened lower, with local jitters offset by local resilience. Japan’s gross domestic product expanded 0.5 per cent in the first quarter, exceeding market forecasts of 0.4pc.

Seoul’s Kospi slid by more than 4pc, with tech stocks losing ground after taking their lead from Wall Street. Shanghai, Taipei and Jakarta also slid. Hong Kong, Sydney and Wellington were ahead.