BANGKOK - Asian equities displayed uneven results on Monday following confirmation from the U.S. and Japan that they had stepped in to support the Japanese yen relative to the U.S. dollar.

Crude oil values dropped notably after U.S. President Donald Trump indicated he would direct American troops to avoid strikes on Iran, noting that an agreement to conclude the conflict in the Middle East appeared imminent.

The dollar eased to around 155.20 yen after Trump and Japanese authorities verified intervention last week aimed at limiting the U.S. currency's advance to levels unseen in four decades versus the yen. The prior week had seen trading near 164 yen.

By midday in Tokyo, one dollar purchased 156.44 Japanese yen.

A softer yen supports earnings for Japanese firms with substantial overseas operations by raising their worth when converted to yen. It has also attracted international visitors benefiting from enhanced buying power while in Japan.

Yet a lower currency reduces Japan's overall buying strength, raising expenses for imported oil and other vital commodities.

The dollar's position strengthened as a refuge for investors amid uncertainty like wartime conditions. Trump praised the dollar's robustness in remarks to journalists, though a softer dollar can enhance competitiveness for U.S. exports.

The U.S. Treasury acquired yen via the Federal Reserve Bank of New York, according to analysts, to aid its appreciation. Japanese authorities have expended over 8 trillion yen (exceeding $50 billion) on such measures.

This represents a clear message, noted Stephen Innes of SPI Asset Management.

"Washington is no longer simply allowing Tokyo to protect the yen. It stands ready to align on the same side of the transaction," he stated in commentary.

The euro slipped to $1.1539 from $1.1549.

In equity markets, Japan's Nikkei 225 index declined 1.1% to 63,652.26, while South Korea's Kospi fell 5.2% to 6,252.49.

The Kospi surged 17.9% on Friday for its strongest session ever after steeper losses earlier in the week. The benchmark features heavy weighting toward Samsung Electronics and SK Hynix, both of which rose over 25% on Friday. Early Monday, however, Samsung shares dropped 8.4% and SK Hynix declined 7.6%.

Hong Kong's Hang Seng index rose 0.1% to 25,893.57, and the Shanghai Composite index fell 0.8% to 3,801.86.

In Australia, the S&P/ASX 200 advanced 0.2% to 8,996.90.

Taiwan's Taiex gained 0.6%, and India's Sensex rose 0.8%.

The pause in Middle East hostilities contributed to oil prices falling more than 5%. Early Monday, the U.S. crude benchmark declined 4.9% to $79.76 per barrel. Brent crude, the global reference, dropped 5% to $83.50 per barrel.

On Friday, U.S. stocks advanced to close a turbulent July on Wall Street.

The S&P 500 rose 0.7% and the Dow Jones Industrial Average gained 0.5%. The Nasdaq composite increased 1% after briefly erasing an early 1.3% advance.

Markets have swung sharply as oil prices climbed due to the Iran conflict. Concerns also grew over whether major technology firms' substantial spending on artificial intelligence will yield returns and whether chipmaker valuations had risen excessively amid AI enthusiasm.

Friday's advances marked the S&P 500's first positive week in three.

Amazon led gains with a 15.3% jump after posting stronger-than-expected quarterly profits. Earnings more than tripled from the prior year, aided by faster growth in its cloud services. Analysts viewed this as a sign that Amazon's significant AI outlays are delivering results, and the company raised its investment spending outlook for the year.

The response echoed that for Microsoft a day earlier, when its shares posted their best session in nearly 18 years on indications that its AI investments may also be generating improved returns.