Asian Markets Mixed After Wall Street Gains Oil Prices Dip

Asian markets showed mixed performance on Tuesday, following gains on Wall Street. Japan’s Nikkei 225 rose 1.1% to 70,683.98, marking its first return above 70,000 since early July. South Korea’s Kospi, however, dropped 0.9% to 6,941.39, with technology-related stocks experiencing volatility. In Japan, Advantest climbed 3.9%, while SoftBank Group fell 3.1% after its CEO warned about risks tied to technology. Samsung Electronics and SK Hynix also declined in South Korea.

Hong Kong’s Hang Seng gained 0.8% to 24,234.19, and Australia’s S&P/ASX 200 rose 0.6% to 8,735.70. Taiwan’s Taiex and India’s Sensex saw modest increases of 0.2% and 0.6%, respectively. Mainland China’s markets were closed due to a holiday.

Wall Street’s S&P 500 rose 0.7% on Monday, nearing its record high, while the Dow Jones and Nasdaq also gained. Technology stocks like Nvidia and Broadcom supported the rally, each rising 2.1%. Oil prices fell early Tuesday, with Brent crude down 0.8% to $99.48 per barrel and U.S. crude losing 1.1% to $88.46 per barrel. Analysts noted easing upward pressures on oil prices due to recovering flows from the Persian Gulf, though regional tensions persist.

The 10-year U.S. Treasury yield remained near multi-decade highs, climbing to around 5.30%, up from 5.28% on Friday. The U.S. dollar strengthened against the yen and euro, reflecting investor demand for higher returns amid rising inflation and national debt concerns.