Markets Slip, Oil Rises After Trump Calls for Tehran Evacuation Amid Iran-Israel Tensions – Asia Market Wrap

US and European stock futures fell and oil rose after President Donald Trump called for the evacuation of Tehran, in comments that contrasted with earlier optimism that Israel-Iran tensions wouldn’t escalate into a wider conflict.

Gold fluctuated following Trump’s comments in a social media post from a Group of Seven leaders’ summit in Alberta. It wasn’t clear what he was referring to but hours earlier, Trump had said Iran wanted to make a deal. The US President is cutting short his G-7 visit, according to the White House, and returning to Washington.

A gauge of Asian stocks inched higher, with Japanese and Taiwanese shares advancing while equities in Hong Kong and China fell. Semiconductor-related shares gained as momentum continued to build for artificial-intelligence trades. Risk-on sentiment had returned to Wall Street on Monday and pushed the S&P 500 up about 1% to back above 6,000.

There were mixed signs that investors will keep faith in the US economy, as longer-maturity Treasuries continued to lag the market even after a $13 billion sale of 20-year bonds drew the expected yield level – a notable improvement from last month’s auction disappointment that spurred a broad selloff. The dollar was mixed against Group-of-10 currencies.