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The Asia-Pacific equity markets were mixed on Tuesday, tracking losses in the S&P 500 and the Nasdaq overnight, while investors assessed industrial profit data out of China. At the same time, rising tensions in the Middle East weighed on the global market sentiment.
The Japan (NKY:IND) +0.72%. The Nikkei 225 Index rose on Tuesday, erasing losses from earlier in the session, with all sectors participating in the advance.
The Japanese yen depreciated toward 145 per dollar, pulling back from a three-week high as the US dollar gained some ground.
China (SHCOMP) -0.24%. The Shanghai Composite fell on Tuesday, snapping a two-day advance despite strong economic data, as caution emerged as Canada said it would join the US and Europe in slapping China-made EVs with massive tariffs.
Profits earned by China’s industrial firms increased more than expected in the first seven months of the year, amid Beijing’s continued efforts to boost the economy.
Investors now look ahead to official Chinese PMI figures for August due for release on Saturday for further insights on the world’s second-largest economy.
Hong Kong (HSI) +0.30%.
India (SENSEX) +0.11%. Shares in India rose in morning trade on Tuesday, mainly boosted by tech sectors, property, pharmaceuticals, and healthcare.
Australia (AS51) -0.16%. The S&P/ASX 200 Index fell on Tuesday, reversing gains from earlier in the session, as investors cautiously awaited a key inflation reading that could influence the outlook for Reserve Bank of Australia monetary policy.
In the U.S., on Monday, all three major indexes ended mixed as investors anticipated upcoming interest rate cuts and focused on Nvidia’s eagerly awaited earnings report.
U.S. stock futures mixed on Tuesday as investors braced for key earnings reports this week: Dow -0.01%; S&P 500 +0.03%; Nasdaq +0.08%.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).