Trump said the US, using the Space Force, is monitoring every inch of the Strait of Hormuz, as it does other strategic sites, and warned the US will enforce a 'zero tolerance' policy on the deployment of sea mines.

At the open, China's main futures contracts were mostly higher. Ethylene glycol (EG) and bitumen rose nearly 3%; short fiber (PSF), p-xylene (PX) and fuel oil gained about 2%; No.20 rubber, bottle-grade PET, propylene, Shanghai gold, platinum, PTA, BR rubber, coke and methanol were up more than 1%. On the downside, PVC and egg futures fell over 2%; apples, SC crude oil, rapeseed oil and Soybean No.2 dropped more than 1%; palm oil and pulp were down about 1%.

European semiconductor shares rose on Tuesday after a prior-day selloff. ASML gained 0.5%, ASM International 0.2%, Infineon 1.8% and STMicroelectronics 0.7%. Nasdaq-100 futures were up 0.4%, pointing to a potentially positive U.S. tech open.