Asia-Pacific markets set for mixed open as Trumps Iran warning stokes fresh oil supply fears

Asia-Pacific markets were poised for a mixed open Monday as investors weighed renewed geopolitical tensions after U.S. President Donald Trump warned Iran to “get moving, FAST,” raising fears of further escalation in the Middle East and potential disruptions to global oil supplies.

In a post on Truth Social, Trump on Sunday said “the Clock is Ticking” for Iran and warned there “won’t be anything left” if action was not taken soon, adding that “TIME IS OF THE ESSENCE!” He did not elaborate on the steps he wanted Iran to take or the consequences that could follow.

Oil prices advanced more than 1%. International benchmarkBrentcrudefutures for July gained 1.34% to trade at $110.72 per barrel. U.S.West Texas Intermediatefuturesfor June advanced 1.75% to $107.26 per barrel.

Japan’sNikkei 225was poised to climb, with the Chicago futures contract at 61,710 and the Osaka counterpart last trading at 61,800, compared with the index’s previous close of 61,409.29.

Hong Kong’sHang Seng indexfutures were at 25,733, lower than the index’s last close of 25,962.73.

In Australia, futures last traded at 8,618, below theS&P/ASX 200‘s last close of 8,630.8.

Tensions between Washington and Tehran have remained elevated despite a fragile ceasefire reached in early April. The U.S. has continued its blockade of Iranian ports, while Iran has kept the Strait of Hormuz shut since the conflict began.

U.S. stock futures were little changed following a record-setting week, with traders awaiting quarterly results from Nvidia and major U.S. retailers.

Dow Jones Industrial Average futuresslipped 100 points, or 0.2%.S&P 500andNasdaq-100 futureshovered around the flatline.

Last week on Wall Street, the major indices closed lower on Friday, weighed down by losses in technology stocks and a rise in U.S. Treasury yields after a summit between PresidentDonald Trumpand Chinese PresidentXi Jinpingendedwithout major policy breakthroughs, leaving traders worried.

TheS&P 500shed 1.24% to end at 7,408.50, while theNasdaq Compositeslipped 1.54% to 26,225.14. TheDow Jones Industrial Averagewas down 537.29 points, or 1.07%, and closed at 49,526.17.

Investors took profits in tech after the group saw sharp gains recently. Notably,Intelretreated more than 6%, whileAdvanced Micro DevicesandMicron Technologylost 5.7% and 6.6%, respectively. Nvidia dropped 4.4%, whileCerebras Systems— whichsurged 68% Thursdayafter it began trading on the Nasdaq — shed 10%.

— CNBC’s Sean Conlon, Sarah Min and Lisa Kailai Han contributed to this report