Asian stock markets showed mixed performance on Thursday, while oil prices fell as tensions in the Middle East deepened following fresh military strikes by Iran and the United States.
US stock futures moved higher.
The US carried out additional airstrikes on Iran, while Iran responded by launching attacks targeting Bahrain, Kuwait and Qatar. The latest escalation came a day after US President Donald Trump declared that the temporary ceasefire between the two sides was "over."
Despite the renewed fighting, efforts to revive an interim agreement aimed at ending the conflict were continuing through high-level diplomatic talks, according to a regional intelligence official involved in the mediation process who spoke anonymously because of the sensitive nature of the negotiations.
Japan's Nikkei 225 index rebounded, rising 1.4 percent to 67,743.85 after earlier losses this week, supported mainly by technology stocks. Chip equipment maker Tokyo Electron jumped 5.5 percent, while AI-focused investment firm SoftBank Group slipped 0.1 percent.
South Korea's Kospi index gained 0.6 percent to 7,291.91 after fluctuating during the session. The index had dropped 5.4 percent on Wednesday. Samsung Electronics added 0.2 percent, while memory chip manufacturer SK Hynix surged 5.3 percent.
In China, the Shanghai Composite Index climbed 1.7 percent to 4,036.59, even after data showed producer prices rose 4.1 percent in June from a year earlier, compared with a 3.9 percent increase in May. Some economists linked the faster inflation to higher costs resulting from the Iran conflict.
Hong Kong's Hang Seng Index fell 0.7 percent to 24,027.97. Apple supplier Luxshare lost 2.5 percent during its Hong Kong market debut, while Chinese artificial intelligence company Zhipu, also known as Z.ai, jumped 9.3 percent after announcing plans to raise about $4 billion through a share sale.
Australia's S&P/ASX 200 slipped 0.3 percent to 8,762.50. Taiwan's Taiex fell 0.8 percent, while India's Sensex advanced 0.7 percent.
Oil prices eased after rising sharply the previous day. Brent crude, the international benchmark, fell $1 to $77 a barrel after briefly climbing above $80 on Wednesday. Before the Iran conflict began, Brent crude had been trading near $72 a barrel. Earlier hopes for an interim peace deal had briefly pushed prices back to pre-war levels.
US benchmark crude oil also declined, falling 83 cents to $72.69 a barrel.
On Wall Street, the S&P 500 closed 0.3 percent lower at 7,482.71 on Wednesday after dropping as much as 1.1 percent following Trump's remarks on the ceasefire.
The Dow Jones Industrial Average fell 1.1 percent to 52,348.39, while the technology-heavy Nasdaq Composite edged up 0.2 percent to 25,870.65 after recovering from earlier losses.
Broadcom shares rose 4.8 percent after Apple announced a multi-year partnership with the US chipmaker.
In currency trading, the US dollar slipped to 162.37 Japanese yen from 162.59 yen, while the euro strengthened to $1.1438 from $1.1417.