Stocks in Asia were set for broad gains on Wednesday after oil prices fell, easing some pressure on markets as investors weighed the latest developments in the Middle East and the ongoing US-Iran stalemate. Equity-index futures pointed to gains in Japan, South Korea and Taiwan, while contracts for Australia were little changed. US stock futures edged higher after the underlying benchmarks finished little changed.

A rally in US semiconductor stocks and President Donald Trump’s rejection of regulations on artificial intelligence may boost Asian shares linked to the AI theme. US oil declined in early Asian trading after Brent crude settled below $103 a barrel as Saudi Arabia was said to have restored about half the capacity of its East-West pipeline following drone attacks. The Trump administration also ordered another release of oil from emergency reserves as US-Iran talks remained deadlocked.

New Zealand government bonds rallied after Treasuries finished mixed Tuesday. The US two-year yield fell five basis points, while the 30-year yield climbed above 5.61%, touching its highest level since 2002, as investors digested the first of several economic data releases due this week and comments from Federal Reserve officials. US-Iran tensions remain a key source of uncertainty for investors, with markets watching for signs of progress in ceasefire talks after mixed signals in recent days.

Data on Tuesday showed US consumer confidence in September dropped to the lowest level since 2014. Job openings fell in August suggesting employers grew more cautious about expanding their workforces. New York Fed President John Williams said another interest-rate hike “late this year” may be appropriate. Fed Governor Michael Barr repeated his warning that more increases may be needed, while Chicago Fed President Austan Goolsbee said the central bank must respond to supply shocks.