In Hong Kong, the benchmark Hang Seng Index opened up 61 points, or 0.24 percent, at 25,998 before lurching in the other direction to be 94 points, or 0.37 percent, down at 25,842 in early trading.
The tech index edged up 13 points, or 0.27 percent, at 4,932 while the China Enterprises Index was 32 points, or 0.37 percent, higher at 8,654.
On the mainland, the Shanghai Composite Index opened down 15 points, or 0.4 percent, at 3,950.
The Shenzhen Component Index was 50 points, or 0.35 percent, lower at 14,266 while the ChiNext Index inched down three points, or 0.09 percent, to 3,533.
With the Nikkei in Tokyo closed for a holiday, the Kospi in Seoul opened 59 points, or 0.95 percent, lower at 6,240 before edging its way up to be 40 points, or 0.64 percent, higher at 6,339 at one stage before lunch.
The mostly lower openings came after US President Donald Trump on Monday responded to Iran’s conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of Hormuz.
The back-and-forth sent oil prices about five percent higher.
“Stocks are doing their best to ignore the situation in the Persian Gulf, which is frankly what they’ve been doing for the last few months,” said Steve Sosnick of Interactive Brokers.
“We’ve noticed a pattern pretty much since the beginning of April that stocks will rally on anything that sounds like a positive development towards a ceasefire or a lasting peace but not sell off when the bond market or the oil market express their disappointment with the lack of progress.” (Agencies)
