Asian markets mixed amid Wall Street gains and steady oil prices
Asian markets showed mixed results on Tuesday, following gains on Wall Street. Japan’s Nikkei 225 rose 0.5% to 70,321.83, marking its first time above 70,000 since early July. South Korea’s Kospi, however, fell 1% to 6,936.60, with tech-related stocks experiencing volatility. Advantest gained 2%, while SoftBank Group dropped 2.5% after its CEO warned about risks related to technology. Samsung Electronics and SK Hynix also declined, by 1.6% and 2.9% respectively.
Hong Kong’s Hang Seng climbed 0.8% to 24,228.47, and Australia’s S&P/ASX 200 rose 0.6% to 8,735.20. Taiwan’s Taiex edged down 0.1%, while India’s Sensex added 0.2%. Mainland China markets were closed for a holiday.
On Monday, Wall Street’s S&P 500 gained 0.7%, nearing its record high. The Dow Jones Industrial Average climbed 0.2%, and the Nasdaq composite rose 1.1% to an all-time closing high. Tech giants like Nvidia and Broadcom supported the gains, each advancing 2.1%.
Oil prices steadied on Tuesday, with Brent crude up 0.4% to $100.71 per barrel and U.S. crude adding 0.3% to $89.73 per barrel. Analysts noted easing pressures on oil prices due to recovering oil flows from the Persian Gulf, though tensions between the U.S. and Iran remain high. U.S. Treasury yields also remained near multi-decade highs, with the 10-year yield climbing to around 5.32%.