Asian stocks showed mixed results after Wall Street stocks advanced and US bond yields surged following a Supreme Court ruling that former presidents have broad immunity from prosecution.
The Japanese yen dropped to a near 38-year low, trading at 161.66 yen per dollar early Tuesday.
Tokyo’s Nikkei 225 index rose by 1.1% to 40,062.42, as the weaker yen boosted export-oriented shares.
Australia’s S&P/ASX 200 fell by 0.4% to 7,719.30, and South Korea’s Kospi declined by 0.9% to 2,778.32, despite data showing consumer inflation in South Korea slowed to an 11-month low in June.
Hong Kong’s market was up following a holiday break, with the Hang Seng increasing by 0.6% to 17,819.50, while the Shanghai Composite Index remained nearly unchanged at 2,995.78.
Elsewhere, Taiwan’s Taiex gained 0.6%, and Bangkok’s SET index decreased by 0.6%.
On Wall Street, all three major indexes ended higher in a volatile session, with gains led by technology, consumer discretionary, and banking stocks.
Investors are also watching the impact of the Supreme Court’s decision, which likely postpones a criminal case against Donald Trump until after the November election.
The Dow Jones Industrial Average rose by 0.1% to 39,169.52, the S&P 500 increased by 0.3% to 5,475.09, and the Nasdaq Composite climbed by 0.8% to 17,879.30.
Benchmark 10-year US Treasury yields reached their highest level since mid-June at the beginning of a holiday-shortened week, which is expected to see low trading volumes. The yield increased to 4.46% from 4.39% on Friday and 4.29% on Thursday.
