Asian stock markets displayed a mixed performance on Tuesday, influenced by negative cues from Wall Street and ongoing trade war anxieties. Uncertainty is fueled by potential trade conflicts and China's threat to retaliate against countries compromising its interests through deals with the U.S.
In Australia, the S&P/ASX 200 experienced a slight decrease of 0.6% after a long weekend, dipping below 7,800. Tech stocks led the decline, while gold stocks showed positive movement. Japan's Nikkei 225 also saw a slight dip of 0.17 percent, closing at 34,221.71, impacted by weaknesses in exporters, technology, and financial sectors.
Across the region, South Korea's Kospi fell 0.34%. Hong Kong's Hang Seng index futures indicated a slightly weaker opening. On Monday, Wall Street faced a significant downturn, with the Nasdaq plummeting 2.55 percent, the Dow Jones Industrial Average declining 2.48%, and the S&P 500 slumping 2.36 percent.
Crude oil prices also experienced a rise, with West Texas Intermediate crude trading at $62.78 a barrel, influenced by progress in US-Iran talks. These market movements reflect ongoing global economic uncertainties and investor caution.