Asian Markets Mixed After Wall Street Gains Oil Prices Steady
Asian markets showed mixed performance on Tuesday, following gains on Wall Street. Japan’s Nikkei 225 rose 0.5% to 70,321.83, returning above 70,000 for the first time since early July. Meanwhile, South Korea’s Kospi 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 potential risks related to technology. Samsung Electronics and SK Hynix also declined.
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%. Markets in mainland China were closed for a holiday.
On Monday, Wall Street’s S&P 500 added 0.7%, nearing a record high, while the Dow Jones Industrial Average and Nasdaq composite also posted gains. Technology giants like Nvidia and Broadcom supported the rally, each rising 2.1%. Oil prices steadied, 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 upward pressures on oil prices but cautioned about potential supply disruptions in the Middle East.
U.S. Treasury yields remained near multi-decade highs, with the 10-year yield climbing to around 5.32%. Investors are seeking higher returns amid rising inflationary pressures and a record U.S. national debt surpassing $40 trillion. The U.S. dollar rose slightly against the Japanese yen, while the euro traded at $1.1222.