Asia-Pacific markets traded mixed on Tuesday amid thin year-end conditions, as a sell-off in United States technology stocks weighed on regional sentiment amid concerns about a potential artificial intelligence bubble.
By 12:10 pm AEDT (1:10 am GMT), Australia’s S&P/ASX 200 edged 0.2% higher, while Japan’s Nikkei 225 slipped 0.3%. South Korea’s Kospi 200 added 0.1%, extending gains to trade near fresh record highs.
In South Korea, economic data provided some support to markets. Business sentiment rose to its highest level in 17 months in December, driven by stronger demand linked to facility investments in the United States, according to a survey released by the Bank of Korea.
The Composite Business Sentiment Index for all industries climbed to 93.7, up 1.6 points from November.
Overnight in the United States, major benchmarks finished modestly lower as technology stocks remained under pressure. The Dow Jones Industrial Average fell 0.5%, the S&P 500 closed 0.4% lower and the Nasdaq Composite declined 0.5%.
In commodities, oil prices advanced, with Brent crude gaining 2.1% to settle at US$61.49 per barrel. Gold prices fell sharply, with spot gold tumbling 4.4% from record highs to settle at US$4,332.56 per ounce.
In mainland China, the Shanghai Composite rose 0.04% to 3,965.3, while the CSI 300 declined 0.4% to 4,639.4.
Hong Kong’s Hang Seng Index lost 0.7% to 25,635.2, and India’s BSE Sensex finished 0.4% lower at 84,695.5.
European markets traded within a narrow range on Monday. The UK’s FTSE 100 slipped 0.04% to 9,866.5, Germany’s DAX edged up 0.1% to 24,351.1, and France’s CAC 40 added 0.1% to close at 8,112.0.
