[MARKET ANALYSIS] Asia-Pac stocks trade mixed as geopolitical uncertainty lingers, despite US President Trump calling off strikes on Iran

APAC Stocks: MixedAsia-Pac stocks trade mixed following the choppy performance in US peers as mixed geopolitical headlines dominated price action stateside, while there was an announcement late in the session on Monday by US President Trump that he instructed defence officials to hold off on a planned attack on Iran that was scheduled for Tuesday. The decision followed a request from Middle East allies as serious negotiations were said to be taking place, and they had the opinion that a deal will be made, which will be very acceptable to the US, although Trump added that he further instructed top defence officials and the military to be prepared to go forward with a full, large scale assault of Iran, on a moment’s notice, if an acceptable deal is not reached.ASX 200: +1.0%Index is led higher by notable strength in the consumer, telecom, real estate and financial sectors, while the minutes from the RBA's May meeting also noted that the board judged financial conditions would be somewhat restrictive after the May hike.Nikkei 225: -0.4%Swung between gains and losses as participants reflected on recent currency fluctuations, stronger-than-expected GDP data, and the potential ramifications for BoJ policy.Hang Seng & Shanghai Comp: Hang Seng +0.2% / Shanghai Comp -0.1%Chinese markets are somewhat varied in rangebound trade with very little fresh catalysts outside of geopolitics.US Equity Futures: Marginally lowerPrice action is lacklustre as geopolitical uncertainty lingers, despite US President Trump calling off Iran strikes.European Equity Futures +0.3%Indicate a mildly higher cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with gains of 0.4% on Monday.