US Sanctions on Iran Fail to Move Asian Markets as Oil Prices Remain Steady

Asian stocks were mixed on Tuesday after US markets closed with a mixed finish ahead of potentially market-moving events later in the week. The Tokyo Nikkei 225 gained 0.4% to 65,811.19, while Hong Kong's Hang Seng lost 0.3% to 25,453.19.

The Shanghai Composite index edged 0.1% lower to 3,878.38, and the Kospi in South Korea fell 0.4% to 6,675.88. In Australia, the S&P/ASX 200 gained 0.6% to 9,158.70.

The US Treasury Department announced fresh sanctions against Iran on Monday, warning that countries persisting in doing business with the Islamic Republic would face retaliation. Oil prices remained steady after the announcement, with Brent crude trading at $90.51 per barrel and US benchmark crude oil at $85.10 per barrel.