Asian Markets Mostly Higher as Wall Street Extends Gains
Asian equities traded mostly higher on Tuesday, following another strong session on Wall Street, where US indices closed out a second consecutive winning month with fresh record highs.
Japan’s Nikkei 225 slipped 1.2% to 40,003.24 despite a stronger-than-expected reading from the Bank of Japan’s quarterly Tankan survey, which showed improved sentiment among large manufacturers.
China’s Shanghai Composite edged up 0.2% to 3,451.69 after official data showed the manufacturing PMI rose to a three-month high of 49.7 in June. The services PMI also climbed to 50.5, signaling modest expansion.
South Korea’s Kospi jumped 1.5% to 3,117.17, buoyed by a rebound in exports during June, driven by strong overseas demand for semiconductors, ships, and healthcare products.
Australia’s S&P/ASX 200 inched up 0.1% to 8,550.80, while the Philippines’ PSEi added 0.2%. Hong Kong markets were closed for a public holiday.
On Wall Street, tech-led gains pushed major indices to new records. The Dow Jones rose 0.6% to 44,094.77, the S&P 500 gained 0.5% to 6,204.95, and the Nasdaq Composite climbed 0.5% to 20,369.73.
In fixed income markets, the yield on 10-year US Treasury notes eased to 4.228%, down from 4.290% late Sunday, reflecting a cautious tone in bond markets.
