A pedestrian walks past an electronic quotation board displaying the Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on March 23, 2026.

Asia-Pacific markets traded mixed on Tuesday as investors weighed developments in U.S.-Iran negotiations.

U.S. President Donald Trump and his national security team on Monday discussed Iran's reported offer to reopen the Strait of Hormuz, contingent on the U.S. lifting its blockade and ending the conflict, according to White House press secretary Karoline Leavitt.

It remains unclear whether Trump, who has said sanctions relief would come only once a deal is "100% complete," is willing to consider the proposal as a pathway to de-escalation in the two-month-long conflict.

"I will confirm the president has met with his national security team this morning," Leavitt said at a press briefing Monday afternoon when asked about the reports.