Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street on Monday, as fading hopes for US-Iran peace negotiations dampened market sentiment after US President Donald Trump rejected Iran's counteroffer to end the war as "unacceptable", adding the month-old ceasefire with Iran is "unbelievably weak" and on "massive life support." Asian markets closed mixed on Monday.
Trump called Iran's response to his peace proposal a "piece of garbage" and said he "didn't even finish reading it."
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.