Asia-Pacific markets were mostly higher on Tuesday after a mixed session on Wall Street that saw the Dow rise and the Nasdaq fall as investors dumped technology stocks.
Hong Kong’s Hang Seng rose 1.8%, while China’s CSI 300 gained 2.13%.
Japanese markets were the only outliers, with the Nikkei 225 down 1.93 percent. The Topix fell 1.27%. The yield on Japan’s 40-year government bond rose to 2.766, the highest since 2007, LSEG data showed.
South Korea’s Kospi rose 0.34%, while small-cap Kosdaq added 1.41%.
Australia’s S&P/ASX 200 closed 0.48% higher at 8,231, snapping a three-day losing streak.
Investors will continue to monitor the Indian rupee after it weakened to a record low against the US dollar. India released inflation data for December on Monday, which fell for the second month in a row on an annual basis, coming in slightly below expectations at 5.22% and bolstering the case for possible interest rate cuts.
Thailand will release its consumer confidence index for December, SEEbiz reports.
Overnight in the US, the Dow Jones Industrial Average climbed, outperforming the market, while the Nasdaq Composite slipped as traders continued to sell off major technology stocks that fueled the bull market.
The 30-stock Dow rose 358.67 points, or 0.86%, to close at 42,297.12 as investors turned to non-tech stocks such as Caterpillar, JPMorgan and UnitedHealth. Meanwhile, the tech-rich Nasdaq fell 0.38% to 19,088.10. The S&P 500 rose 0.16% to end at 5,836.22.
All three benchmarks have seen declines over the past two weeks, with tech stocks taking the brunt of the damage.
