Asian stock markets displayed a mixed performance on Wednesday, reflecting a rally on Wall Street driven by easing oil prices and optimism regarding US-Iran ceasefire negotiations. Brent crude oil prices dipped 0.2% to just above $98 per barrel, while US benchmark crude fell 0.4% to $89.29 per barrel. The mixed results included Japan's Nikkei 225 gaining 0.5%, while Hong Kong's Hang Seng index dropped 1.3%. Investors reacted positively to US President Donald Trump's announcement of an extended ceasefire with Iran, pending a unified proposal from Tehran. The International Monetary Fund (IMF) also downgraded its global economic growth forecast to 3.1% this year, reflecting ongoing inflation concerns, which are projected to rise to 4.4%. In the bond market, US Treasury yields eased, with the 10-year yield falling to 4.25% as oil prices declined, alleviating some inflationary pressures.