Asia-Pacific markets were set to open mixed on Tuesday as investors assessed regional economic data and higher oil prices following an agreement between Iran and the United States to pause recent hostilities in the Middle East.
By 11:45 am AEST (1:45 am GMT), Australia’s S&P/ASX 200 was broadly unchanged, up just 0.03%. Japan’s Nikkei 225 added 0.4%, while South Korea’s KOSPI 200 slipped 0.4%.
In South Korea, Industrial production fell 0.3% in May from April, extending a two-month run of monthly declines, according to the Ministry of Data and Statistics.
Retail sales, however, showed a modest rebound over the same period, increasing 0.1%.
In Japan, the unemployment rate remained unchanged at 2.5% in May, government data showed, as fewer workers left their jobs following the end of the annual hiring cycle.
Separately, industrial production increased 0.5% from the previous month, expectations of a 1.1% gain. On an annual basis, output fell 1.7%.
The Reserve Bank of Australia released minutes from its June monetary policy meeting, noting that global financial conditions had eased since the previous meeting as progress emerged toward resolving the Middle East conflict.
However, policymakers warned that weak productivity growth could slow the return of inflation to target levels.
In China, manufacturing activity expanded at a faster-than-expected pace in June, supported by strong demand for high-tech exports amid the global artificial intelligence boom.
The official manufacturing purchasing managers’ index (PMI) rose to 50.3 in June, above expectations of 50.1 and returning to expansionary territory after holding at 50.0 in May.
The non-manufacturing PMI, which tracks construction and services activity, edged up to 50.2 from 50.1 in May, according to the National Bureau of Statistics.
On Wall Street overnight, major U.S. benchmarks closed higher, with the Dow Jones Industrial Average hitting a record closing high, up 0.6%. The S&P 500 gained 1.2%, while the Nasdaq Composite advanced 2.1%.
In commodities, Brent crude rose 1.8% to settle at US$73.91 per barrel, while spot gold declined 1.4% to US$4,015.41 per ounce.
In China, equities advanced broadly on Monday, with the Shanghai Composite Index rising 1.2% to 4,073.9 and the CSI 300 also gaining 1.2% to 4,926.9.
Hong Kong’s Hang Seng Index climbed 1.6% to 23,026.7, while India’s BSE Sensex fell 0.5% to 76,728.4.
European markets ended lower on Monday, with the UK’s FTSE 100, Germany’s DAX and France’s CAC 40 each slipping 0.2% in cautious trade.
