Asia-Pacific markets were mixed on Tuesday as investors digested a key trade deal between the United States and China, following softer-than-expected U.S. inflation figures and a surge in crude oil prices overnight.
At 11:05 am AEST (1:05 am GMT), Australia's S&P/ASX 200 inched up 0.1%, extending its run of record highs. Japan’s Nikkei 225 lost 0.6%, while South Korea’s Kospi 200 added 0.5%.
U.S. President Donald Trump declared that a trade deal with China was “done” and suggested that imports from China would face tariffs of up to 55%.
Meanwhile, data released overnight showed U.S. consumer inflation rising more slowly than expected. The consumer price index (CPI) increased by just 0.1% in May, below market expectations of 0.2%.
On Wall Street, the Dow Jones Industrial Average ended nearly flat. The S&P 500 dipped 0.3%, and the Nasdaq Composite shed 0.5%.
In commodities, Brent crude oil surged 4.3% to a multi-month high of US$69.77 per barrel. Spot gold also climbed 1% to US$3,355.25 per ounce as investors sought safe-haven assets.
Chinese stocks advanced despite tariff uncertainty. The Shanghai Composite added 0.5% to 3,402.3, and the CSI 300 rose 0.8% to 3,894.6.
Hong Kong’s Hang Seng Index also gained 0.8% to 24,366.9, while India’s BSE Sensex edged 0.2% higher to 82,515.1.
European bourses ended mixed. London’s FTSE 100 climbed 0.1% to 8,864.4, near record highs. Germany’s DAX slipped 0.2% to 23,948.9, while France’s CAC 40 lost 0.4% to 7,775.9.
