Asian stocks wobbled on Monday after Iran and the United States agreed to halt renewed hostilities that had cast a shadow over an interim peace deal and kept oil prices supported, while the dollar stood tall near a one-year high on rate-hike bets.A return to diplomacy in the Middle East would follow several days of tit-for-tat strikes since an Iranian projectile hit a cargo vessel in the Strait of Hormuz last week, with both sides accusing each other of breaking an interim ceasefire.
Futures for S&P 500 and Nasdaq gained 0.4 percent while European futures rose 0.2 percent. South Korea's KOSPI fell nearly 2 percent, while Japan's Nikkei slipped 1 percent, leaving MSCI's broadest index of Asia-Pacific shares down 0.4 percent.
"It feels like we are lacking a bit of direction," said Nick Twidale, chief market strategist at ATFX Global in Sydney.
"We may get a shot in the arm later today from more positive news out of the Middle East [...] but at the moment I think it's going to be a bit of a flow-driven day without major moves to either side," Twidale said.
Worries over the future of the peace deal lifted oil prices, which have given up almost all of their war-driven gains as markets quickly reprice the prospect of easing supply.
