Stocks

Asian Stocks Mixed as Major Indices Made Tepid Moves

Asian markets are mostly high on Tuesday, with most major indices making tepid moves after rallying in the previous session.

In Japan, the Nikkei 225 rose 0.22 percent or 50.34 points to 22,526.28 from its previous close at 22,475.94. The technology and insurers sectors lead the gains. The Topix also clung up in gains, trading 0.015 percent or 0.27 points higher to 1,774.96. Its oil and mining subindices, however, were down 3.303 percent and 2.16 percent, respectively.

South Korea’s Kospi index also rose 0.18 percent or 4.34 points to trade at 2,452.10.

Going to China, Hong Kong’s Hang Seng Index surged 0.49 percent or 137.83 points to 31,135.81 from its previous close at 30.997.98. The developers and technology stocks lead the gains for the index.

Mainland China’s Shanghai Composite Index rose 0.49 percent or 14.84 points to trade at 3,106.61.

Meanwhile, MSCI’s broad index of shares in Asia-Pacific, excluding Japan, slightly gained 0.05 percent or 0.08 points to 163.48. On the other hand, the S&P/ASX 200 slipped 0.51 percent or 30.60 points to 5004.90.

Going to other major stock indices, the Dow Jones Industrial Average rose 0.72 percent or 178.48 points to 24,813.69. The gains followed the release of expectations surpassing the US job numbers on Friday.

The Nasdaq composite posted a record close since March 12. The index rose 0.69 percent or 52.13 points to trade at 7,606.46 as technology names advanced, with Apple and Amazon notching record closing highs.

US Recent Moves

Investors continue to keep an eye on the US, as the country imposed tariffs on steel and aluminum imports from the European Union (EU) and its North American Free Trade Agreement (NAFTA) co-members, Canada and Mexico.

Also, the US had no major breakthroughs with its trade talks with China.

That comes in the lead-up to a meeting of world leaders at the G-7 summit in Canada this week.

ANZ analysts said in a note, “Ahead of this, markets will be looking to see multilateral co-operation on economic issues in the light of recent anxieties about trade.”

The US dollar index stood at 94,079. Against the Japanese yen, the dollar traded at 109.85.  Meanwhile, the US’ ten-year Treasuries edged higher after four consecutive sessions of declines.

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