Hong Kong

Worldshares were mixed and oil was trading below $80 a barrel on Wednesday as investors watched for details on the interim agreement between the US and Iran to end the war. US futures were also trading mixed ahead of a decision by the Federal Reserve on interest rates.

In early European trading, Britain's FTSE 100 edged 0.2 per cent lower to 10,471.84, following official data that showed UK inflation was steady in May at 2.8 per cent even as fuel prices increased. Germany's DAX fell 0.3 per cent to 24,829.58, while France's CAC 40 was up 0.2 per cent to 8,465.32.

Asian stocks were mostly higher with markets in Japan and South Korea setting new records. Tokyo's Nikkei 225 gained 0.7 per cent to 69,902.25, after reaching an intraday high of 70,125.75 following news that Japan's exports jumped 17 per cent in May from a year earlier, helped in part by strong demand for high-tech products.

South Korea's Kospi gained 1.6 per cent to 8,864.24, also closing at another all-time high, with big technology stocks climbing despite a sell-off of artificial intelligence-related shares on Wall Street. Samsung Electronics, the country's most valuable company, was up 1 per cent. Chipmaker SK Hynix jumped 5.8 per cent.

Hong Kong's Hang Seng lost 0.7 per cent to 24,312.16, while the Shanghai Composite index rose 0.4 per cent to 4,108.08. Australia's S&P/ASX 200 climbed 0.5 per cent to 8,966.30, and Taiwan's Taiex added 0.2 per cent.

Oil prices steadied after falling sharply earlier on optimism over a possible end to the war and reopening of the Strait of Hormuz, crucial for oil and gas transport worldwide. But challenges remain, including whether the deal includes Israel's withdrawal from Lebanon.