Japan’s Nikkei 225 Index fell 0.5% to below 65,000, while the broader Topix Index slipped 0.1% to 3,938 on Tuesday, with both benchmarks easing from record highs as investors continued to track diplomatic efforts aimed at ending the US-Iran conflict. President Donald Trump said negotiations were progressing well, although he warned that fresh attacks could follow if talks failed, while a Pakistani mediator reportedly told China that an agreement was nearing. A full reopening of the Strait of Hormuz would also ease pressure on major Asian economies that rely heavily on Middle Eastern oil imports. Technology and artificial intelligence-related shares retreated after driving Monday’s rally, led by declines in Kioxia Holdings (-3.5%), Fujikura (-4%), and Advantest (-4.9%). In contrast, SoftBank Group surged another 6% and is now up nearly 50% in four sessions following reports that two of its portfolio companies, OpenAI and SB Energy, are moving closer to US initial public offerings.