Asian Stocks Mixed as Oil Prices Fall After Trump-Iran UN Meeting

Asian stock markets were mixed on Wednesday following US President Donald Trump's comments at the UN that he met with Iranian officials. Despite the upbeat tone, oil prices fell and remained below $100 a barrel.

The Shanghai Composite index slid 0.4% to 3,938.08, while Hong Kong's Hang Seng lost 0.8% to 24,896.04. In contrast, South Korea's Kospi rose 0.5% to 7,052.75, and Taiwan's Taiex was 0.6% higher.

The US dollar rose against the Japanese yen, trading at 157.59 yen from 157.39 yen. Major technology stocks in Asia traded mixed, with Samsung Electronics rising 2.6%, while SK Hynix added 0.4%. Shares of Taiwan Semiconductor Manufacturing Co., or TSMC, were up 1.2%.

Brent crude, the international standard, fell to $98.40 per barrel after Trump's comments that US and Iranian officials had a 'very good' meeting on the sidelines at the UN. This follows his threat during an address to the annual gathering that the US might 'annihilate' the Islamic Republic if a deal couldn't be made.