Asian Markets Mixed After Wall Street Gains Oil Prices Steady

Asian markets showed mixed performance on Tuesday, following gains on Wall Street. U.S. futures also advanced after the S&P 500 neared a record close. Japan’s Nikkei 225 rose 1.1% to 70,683.98, returning above the 70,000 mark for the first time since early July. Meanwhile, South Korea’s Kospi dropped 0.9% to 6,941.39. Technology-related stocks in both countries saw volatility, with Advantest gaining 3.9% and SoftBank Group falling 3.1% after its CEO warned about potential dangers related to technology.

Hong Kong’s Hang Seng climbed 0.8% to 24,234.19, while Australia’s S&P/ASX 200 rose 0.6% to 8,735.70. Taiwan’s Taiex edged up 0.2%, and India’s Sensex added 0.6%. Markets in mainland China remained closed due to a holiday.

On Monday, Wall Street’s S&P 500 added 0.7% to near its previous record high, the Dow Jones Industrial Average climbed 0.2%, and the Nasdaq composite rose 1.1% to an all-time closing high. Technology giants like Nvidia and Broadcom supported the gains, each advancing 2.1%. Oil prices declined 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 that while oil flows from the Persian Gulf show signs of recovery, market tensions between the U.S. and Iran keep prices well-supported. In the bond market, the 10-year U.S. Treasury yield climbed to around 5.30%, driven by inflationary pressures and rising U.S. national debt. The U.S. dollar rose to 158.15 Japanese yen, and the euro traded at $1.1209.