Asian markets were mixed on Tuesday as higher-than-expected US inflation dragged most Wall Street stocks lower.
Japan’s Nikkei 225 rose 0.2% to 39,752.06, supported by a stronger dollar, which traded close to 149 yen. Investors are eyeing Sunday’s Upper House election, where expected tax cuts and increased government spending could impact the ruling Liberal Democratic Party’s popularity. However, concerns over Japan’s fiscal outlook have pushed long-term government bond yields to multi-year highs.
Elsewhere in the region, Hong Kong’s Hang Seng was flat at 24,599.40, while China’s Shanghai Composite slipped 0.2% to 3,498.11. South Korea’s Kospi fell 0.9% to 3,187.04, and Australia’s S&P/ASX 200 dropped 0.7% to 8,566.60.
In contrast, Taiwan’s Taiex climbed 0.9% to 23,042.90. India’s Sensex dipped 0.2% to 82,386.98, while Thailand’s SET index was little changed at 1,161.25.
On Wall Street, stocks closed mostly lower despite another record high for the Nasdaq. The Dow Jones fell 1% to 44,023.29, the S&P 500 slipped 0.4% to 6,243.76, while the Nasdaq edged up 0.2% to a new high of 20,677.80.
In bonds, the yield on the 10-year US Treasury rose to 4.488% from 4.438% the previous evening.
