Asia-Pacific markets traded mostly higher on Wednesday as investors largely looked beyond continued uncertainty surrounding U.S.-Iran negotiations and the broader conflict in the Middle East.

Japanese equities led regional gains, with the Nikkei 225 advancing 0.91% to a record high, while the broader Topix index added 0.93%. Australia's S&P/ASX 200 also moved higher, gaining 0.32%.

Meanwhile, Hong Kong's Hang Seng Index futures pointed to a softer opening, last trading at 25,853 compared with the index's previous close of 26,038.32. South Korean markets remained closed for a public holiday.

Geopolitical developments remained in focus after U.S. Secretary of State Marco Rubio stated that Iran had deployed mines in parts of the Strait of Hormuz and continued actions against commercial shipping. According to a White House official, U.S. forces have destroyed numerous mines and more than 40 vessels involved in minelaying operations.

The Strait of Hormuz remains a critical route for global energy supplies, historically accounting for around 20% of worldwide seaborne oil shipments. Concerns over potential disruptions have continued to support crude oil prices.

U.S. crude futures rose 1.16% to USD 94.92 per barrel, while Brent crude traded near USD 96 per barrel as investors monitored developments in the region.

On Wall Street, futures for the S&P 500, Nasdaq 100 and Dow Jones Industrial Average were little changed following another record-setting session. The S&P 500 gained 0.13% to close above the 7,600 level for the first time, while the Dow Jones Industrial Average rose 228.91 points, or 0.45%. The Nasdaq Composite edged 0.03% higher.

Investors are expected to remain focused on geopolitical headlines and energy markets as they assess the potential impact of Middle East tensions on global growth and inflation.

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