Asian Markets Trade Mostly Lower

(RTTNews) - Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from European markets overnight, as the US dollar strengthens against most currencies in the region. Traders also cautiously await the first monetary policy decisions of the year from major global central banks. Asian markets closed mixed on Monday.

Adding to the slight losses in the previous two sessions, the Australian stock market is sharply lower on Tuesday, following the broadly negative cues from European markets overnight. The benchmark S&P/ASX 200 is falling to near the 7,400 level, with losses across most sectors led by mining and energy stocks.

The benchmark S&P/ASX 200 Index is losing 79.00 points or 1.05 percent to 7,417.30, after hitting a low of 7,402.30 earlier. The broader All Ordinaries Index is down 81.30 points or 1.05 percent to 7,648.80. Australian stocks closed slightly lower on Monday.

Among the major miners, Fortescue Metals is losing almost 2 percent, while Rio Tinto, BHP Group and Mineral Resources are declining more than 1 percent each.

Oil stocks are mostly lower. Woodside Energy and Santos are losing more than 1 percent each, while Origin Energy is declining almost 2 percent and Beach energy is down more than 2 percent.

Among tech stocks, WiseTech Global is declining more than 1 percent, Xero is losing almost 1 percent and Afterpay owner Block is edging down 0.4 percent, while Appen is gaining more than 1 percent and Zip is surging more than 8 percent.

Gold miners are mostly lower. Evolution Mining and Resolute Mining are declining almost 2 percent each, while Northern Star resources is losing almost 1 percent. Gold Road Resources is edging up 0.1 percent. Newmont is flat.

Among the big four banks, Commonwealth Bank and Westpac are edging down 0.3 to 0.5 percent each, while National Australia Bank and ANZ Banking are losing almost 1 percent each.

In the currency market, the Aussie dollar is trading at $0.663 on Tuesday.

Snapping the six-session long record rally, the Japanese stock market is modestly lower on Tuesday, with the Nikkei 225 falling below the 35,800 mark, following the broadly negative cues from European markets overnight, with losses across most sectors led by financial and technology stocks.

The benchmark Nikkei 225 Index closed the morning session at 35,792.06, down up 109.73 points or 0.31 percent, after hitting a low of 35,587.53 earlier. Japanese shares ended significantly higher on Monday.

Market heavyweight SoftBank Group is losing almost 1 percent and Uniqlo operator Fast Retailing is down almost 1 percent. Among automakers, Honda is edging down 0.4 percent and Toyota is edging down 0.5 percent.

In the tech space, Advantest and Tokyo Electron are losing almost 2 percent each, while Screen Holdings is declining almost 1 percent.

In the banking sector, Sumitomo Mitsui Financial is losing almost 2 percent, Mitsubishi UFJ Financial is declining almost 1 percent and Mizuho Financial is down more than 1 percent.

The major exporters are mostly lower. Panasonic is losing almost 2 percent and Mitsubishi Electric is declining more than 2 percent, while Sony and Canon are down almost 1 percent each.

Among the other major losers, Toppan Holdings and Dai Nippon Printing are losing almost 4 percent each, while Dowa Holdings, NEXON and Yamato Holdings are declining almost 3 percent each.

Conversely, Aeon is gaining almost 3 percent.

In the currency market, the U.S. dollar is trading in the lower 146 yen-range on Tuesday.

Elsewhere in Asia, New Zealand, Hong Kong, Singapore, South Korea and Taiwan are lower by between 0.2 and 0.9 percent each, while China, Malaysia Indonesia are higher by between 0.1 and 0.3 percent each. On Wall Street, the markets were closed for Martin Luther King Jr. Day on Monday after closing mixed on Friday.

Meanwhile, the major European markets moved to the downside on the day. The U.K.'s FTSE 100 ended lower by 0.39 percent, Germany's DAX drifted down 0.49 percent and France's CAC 40 lost 0.72 percent.