Asia-Pacific markets set to track Wall Street gains as oil declines

Asia-Pacific markets were set to rise Tuesday as investors monitor the latest developments in the Iran war and as U.S. President Donald Trump looks to delay his meeting with Chinese President Xi Jinping by "a month or so."

Trump was expected to travel to China at the end of March.

International benchmark Brent crude futures lost 2.84% to end at $100.21 per barrel, while U.S. West Texas Intermediate futures dropped 5.28% to $93.50 on Monday.

Australia's S&P/ASX 200 added 0.6% in early trade. Australia central bank is expected to raise rates for a second straight time, pushing its key policy rate to 4.1%, highest since April 2025. according to Reuters estimates.

Japan's Nikkei 225 was poised to rise, with the Chicago contract at 54,190 and the futures contract in Osaka at 54,230 compared to the index's previous close of 53,751.15.

Hong Kong Hang Seng index futures were set at 25,894, compared with the index's last close of 25,834.02.

Stock futures were flat after the major averages bounced overnight in light of cooling oil prices.

Futures tied to the Dow Jones Industrial Average lost 46 points, or 0.1%. S&P 500 futures slipped 0.1%, while Nasdaq 100 futures declined nearly 0.2%.

Overnight in the U.S., stocks rose while oil prices pulled back as Wall Street tried to recover from another losing week, with investors monitoring the latest developments of the Iran war.

The Dow Jones Industrial Average added 387.94 points, or 0.83%, closing at 46,946.41. The S&P 500 rose 1.01% to end at 6,699.38, and the Nasdaq Composite gained 1.22% and settled at 22,374.18.

Meta shares gained more than 2% on a report — which the company has called "speculative" — that it is planning to lay off more than 20% of its workforce. Additionally, Nvidia shares rose more than 1% as its GTC conference kicked off Monday.

—CNBC's Sean Conlon and Pia Singh contributed to the report.