A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, April 7, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)2026-04-07T03:25:33Z TOKYO (AP) Asian shares were mixed in cautious trading Tuesday, as oil prices continued to surge ahead of a deadline that U.S. President Donald Trump set for Iran to reopen the Strait of Hormuz to all shipping traffic or risk its power plants and bridges being bombed.Japans benchmark Nikkei 225 erased earlier gains to decline 0.2% in morning trading to 53,310.30. Australias S&P/ASX 200 gained 1.5% to 8,706.90. South Koreas Kospi was little changed, inching down less then 0.1% to 5,445.80. The Shanghai Composite edged up 0.4% to 3,896.98. Trading was closed in Hong Kong for a holiday. On Wall Street, stock prices drifted higher, with the S&P 500 rising 0.4%, coming off its first winning week in the last six. The Dow Jones Industrial Average added 165 points, or 0.4%, and the Nasdaq composite climbed 0.5%.In energy trading, benchmark U.S. crude jumped $2.37 to $114.78 a barrel. Brent crude, the international standard, added $1.40 to $111.17 a barrel. That remains well above its roughly $70 price from before the war. Oil prices have been seesawing amid uncertainty about what will happen in the war with Iran and how long it will slow the global flow of oil and natural gas. Iran on Monday rejected the latest ceasefire proposal and instead said it wants a permanent end to the war. The Mizuho Daily by the research team in Singapore at Mizuho Bank noted Trumps latest actions mark an escalation cycle that has now been extended several times since his first ultimatum in late March. Read More Given the differing perspectives, hopes of a complete resolution to the conflict remains elusive while countries continue to work on bilateral solutions, it said.As talks continued, Iranian and Omani officials also were working on a mechanism for administrating the strait through which a fifth of the worlds oil is shipped in peacetime. Irans grip on it has shaken the world economy. All told, the S&P 500 rose 29.14 points to 6,611.83. The Dow Jones Industrial Average gained 165.21 to 46,669.88, and the Nasdaq composite climbed 117.16 to 21,996.34.In the bond market, Treasury yields held relatively steady. The 10-year Treasury yield was sitting at 4.33%. Thats still well above its 3.97% level from before the war. In currency trading, the U.S. dollar edged up to 159.89 Japanese yen from 159.62 yen. The euro cost $1.1529, down from $1.1543. ___Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama YURI KAGEYAMA Kageyama covers Japan news for The Associated Press. Her topics include social issues, the environment, businesses, entertainment and technology. twitter instagram facebook mailto RSShttps://feedx.net https://feedx.site