Asian shares were mixed in cautious trading Wednesday, as investors watched for next steps in the U.S.-Iran conflict after President Donald Trump extended a ceasefire that was set to expire.

Japan’s benchmark Nikkei 225 rose 0.3% to 59,530.64. Australia’s S&P/ASX 200 declined 1.2% to 8,841.00. South Korea’s Kospi added 0.4% to 6,413.62.

Hong Kong’s Hang Seng lost 1.3% to 26,140.05, while the Shanghai Composite gained 0.3% to 4,096.59.

On Wall Street, the S&P 500 erased an early rise to fall 0.6% after U.S. Vice President JD Vance called off a trip to Pakistan, where he was expected to lead U.S. negotiators in talks with Iran to extend the ceasefire. It closed at 7,064.01.

The Dow Jones Industrial Average dropped 0.6% to 49,149.38.

The Nasdaq composite also slipped 0.6%, to 24,259.96. Less than 10 minutes after the U.S. stock market finished trading for the day Trump said he would extend the ceasefire to give Iran time to submit a proposal to end the war.