Asia-Pacific markets delivered a mixed performance on Tuesday, failing to fully mirror Wall Street's record-setting momentum. While US benchmarks like the S&P 500 and Nasdaq hit new highs overnight, regional investors grappled with local political shifts and assessed corporate earnings resilience amid ongoing tariff concerns.
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Japan's Nikkei 225 exemplified the uncertainty, initially rising before paring gains to close down 0.11% at 39,774.92, despite the ruling coalition losing its upper house majority in weekend elections. The broader Topix was flat. In contrast, Hong Kong's Hang Seng Index rose 0.54%, and mainland China's CSI 300 climbed 0.82%. Australia's ASX 200 edged up 0.1%. South Korea saw significant declines, with the Kospi dropping 1.27% and the Kosdaq losing 1.06%. Singapore stocks snapped an impressive 11-session winning streak, while Indian benchmarks were flat in afternoon trading.
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Corporate news provided bright spots, notably SoftBank Group surging nearly 6% before trimming gains. Looking ahead, South Korea's trade and finance ministers are scheduled to meet their US counterparts on Friday. In Thailand, the cabinet approved Vitai Ratnakorn as the incoming central bank governor, subject to royal approval. The 54-year-old CEO of the Government Savings Bank is set to succeed Sethaput Suthiwartnarueput for a five-year term starting October 1st. The region's markets remain sensitive to both global cues and distinct local political and economic developments.
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