Asian stock markets pulled back from record highs on Tuesday as geopolitical tensions in the Middle East overshadowed recent technology sector gains. The retreat came as investors grew concerned about regional stability following developments in the Strait of Hormuz.

Oil prices advanced amid reports of shipping disruptions in the critical maritime chokepoint. Traffic through the Strait of Hormuz has significantly slowed after Iran seized vessels in the waterway, raising concerns about global energy supplies. The strait handles approximately 20% of the world's oil shipments.

The lack of progress in U.S.-Iran diplomatic talks has contributed to market uncertainty. Tensions between the two nations have escalated in recent months, with shipping through the strategic waterway becoming increasingly disrupted as the standoff continues.

Commodity markets reflected the geopolitical uncertainty, with gold prices remaining steady as the Hormuz situation kept inflation risks elevated. The precious metal has served as a safe-haven asset amid the regional tensions and concerns about potential supply chain disruptions.

Despite the broader market pullback, some individual companies reported positive earnings results. Energy infrastructure firms and oilfield services companies have benefited from increased activity and demand, though these gains were overshadowed by broader geopolitical concerns affecting regional markets.