Asian stock markets trade mixed in subdued early trading as investor enthusiasm cools and uncertainty persists around efforts to end the war in Iran. Multiple outlets report that trading activity is muted and sentiment is cautious, following a period of strong gains. In Japan, the Nikkei 225 falls 0.9% to 71,681.29 during morning trading, reflecting weaker appetite for risk compared with the prior stretch of gains. Elsewhere in Asia, the overall picture remains mixed, with some markets holding steady while others decline, rather than showing broad-based direction.

The reports link the shift in sentiment to continued uncertainty about diplomatic or other efforts aimed at ending the conflict in Iran. While investors had previously responded positively to expectations of calmer conditions, the recent change in tone suggests they are now waiting for clearer signals on progress toward de-escalation. Overall, the coverage emphasizes a cautious market environment rather than a decisive reaction to specific new developments.