Asian shares are mixed, oil prices little changed

Asian shares are mixed in cautious trading as investors watch for next steps in the U.S.-Iran conflict.

Japan reported that it logged a trade deficit in the last fiscal year, the fifth straight year of deficits.

On Tuesday, U.S. stocks and oil prices flip-flopped.

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.

Vicious swings have rocked markets since the war began, with the price for a barrel of Brent crude briefly topping $119.

Oil prices slipped slightly in early Wednesday trading.