Shares were mixed in Asia on Thursday after US stocks hung near their all-time high as financial markets caught their breath following recent bouts of volatility.
The dollar weakened against the Japanese yen and euro and oil prices were steady.
Tokyo's Nikkei 225 climbed 1.3% to 39,465.53 as attention shifted to a July 9 deadline for trade agreements to help stave off higher US tariffs imposed by President Donald Trump.
Japan's lead trade negotiator, Ryosei Akazawa, was due to visit Washington for another round of talks, with 25% US import duties on Japanese vehicles a main point of contention.
Chinese markets were mixed. The Hang Seng in Hong Kong fell 0.5% to 24,357.56, while the Shanghai Composite index edged 0.1% higher, to 3,459.66.
In South Korea, the Kospi dropped 1.4% to 3,064.51 as traders sold shares to lock in recent gains.
Australia's S&P/ASX 200 slipped 0.1% to 8,551.30.
Taiwan's Taiex gained 0.3% and the SET in Bangkok jumped 0.7%.
On Wednesday, the S&P 500 barely budged, closing at 6,092.16. That's just 0.8% below its all-time high set in February. The Dow Jones Industrial Average dipped 0.2% to 42,982.43, while the Nasdaq composite rose 0.3% to 19,973.55.
Beijing treads carefully as Iran-Israel war tests its Middle East strategy
In the oil market, which has been the center of much of this week’s action, crude prices have stabilized after plunging by roughly $10 per barrel earlier this week.
Benchmark US crude rose 23 cents early Thursday to $65.15 per barrel, though it still remains below where it was before the fighting between Israel and Iran broke out nearly two weeks ago.
Brent crude, the international standard, advanced 29 cents to $66.72 per barrel.
A fragile ceasefire between the two countries appears to be holding, at least for the moment.
On the winning side of Wall Street, Bumble jumped 25.1% after the online dating platform said it would cut about 30% of its workforce, or 240 jobs, to save up to $40 million in annual costs.
QuantumScape rallied 30.9% after announcing a breakthrough in its process for making solid-state batteries. Solid state battery technology promises to improve electric vehicle range, decrease charging times and minimize the risk of battery fires. But the batteries are expensive to research and difficult to manufacture at a large scale, giving them a reputation for being a Holy Grail for battery engineers all over the world.
Companies involved in the cryptocurrency industry, meanwhile, rose as the price of bitcoin continued to steam ahead with investors willing to take on more risk. Coinbase Global, the crypto exchange, climbed 3.1% as bitcoin topped $107,000.
In the bond market, Treasury yields held relatively steady, and the yield on the 10-year Treasury eased to 4.28% from 4.30% late Tuesday.
Yields had dropped a day earlier after the chair of the Federal Reserve told Congress it is waiting for the right moment to resume cutting interest rates. By lowering rates, the Fed could give the economy a boost, but it could also fuel inflation.