India, July 1 -- Asian stocks turned in a mixed performance on Wednesday as talks between the U.S. and Iran faced new hurdles, fueling inflation worries and increasing the likelihood of Federal Reserve interest rate hikes.

Iranian Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf said Iran will not enter negotiations with the United States on a final agreement unless five preliminary paragraphs of a recently signed pace memorandum of understanding are fulfilled.

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