Asian stocks mixed as Wall St barely budges
Seoul and Tokyo settled higher, while Shanghai and Hong Kong ended lower; European markets were trading mixed; Wall Street ended on a mixed note on Monday
image for illustrative purpose
Tokyo: Asian shares were mixed in muted trading on Tuesday after US stock indexes were little changed ahead of the release of inflation data. Japan’s benchmark Nikkei 225 lost early gains and was trading less than 0.1 per cent higher at 38,194.38. Australia’s S&P/ASX 200 slipped 0.2 per cent to 7,731.40. South Korea’s Kospi was little changed, inching up less than 0.1 per cent to 2,726.76. Hong Kong’s Hang Seng was up less than 0.1 per cent at 19,115.78, while the Shanghai Composite lost nearly 0.3 per cent to 3,139.89.
Investors were watching for indicators on inflation to gauge the direction of economic growth, as well as the strength of the dollar. “Today marks a significant day for both Germany and the US as they are set to unveil crucial economic data,” said Luca Santos, market analyst at ACY Securities, referring to consumer price data from Germany and producer costs in the US. “Despite their different focuses, both indices offer insights into how inflation is shaping society,” said Santos.
On Monday, the S&P 500 edged down less than 0.1 per cent, to 5,221.42 after flipping between small gains and losses through the day.
