Asian Shares Mostly Higher; Nikkei Outperforms On Weak Yen

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(RTTNews) - Asian stocks were mostly higher on Tuesday after a rally in technology shares boosted Wall Street's main indexes overnight.

The dollar index edged higher in Asian trade, after having fell as much as 1 percent during intraday trading on Monday.

Treasuries were little changed after the yield on the 30-year note climbed to the highest in more than a year on Monday.

Oil steadied after its first drop in six sessions while gold ticked higher as investors awaited more U.S. economic data this week for additional clues on the Fed's rate trajectory.

China's Shanghai Composite index was marginally higher, with tech stocks in focus after the United States has placed Tencent Holdings Ltd. and Contemporary Amperex Technology Co. Ltd. on a blacklist due to alleged links to the Chinese military. Hong Kong's Hang Seng index slipped 0.3 percent amid jitters around the yuan.

Japan's Nikkei average jumped 2.3 percent as the yen dropped to its lowest since July 2024 against the dollar, helping lift export-related shares.

South Korea's Kospi average was up over 1 percent after Foxconn, the world's biggest contract manufacturer of Apple iPhones, beat expectations to post its highest-ever revenue for the fourth quarter.

Australia's benchmark S&P/ASX 200 edged up by 0.3 percent and New Zealand's benchmark S&P/NZX-50 index was down 0.4 percent.

U.S. stocks rose broadly overnight, the dollar dropped and yields on long-term Treasury securities edged higher as Foxconn reported record fourth-quarter revenue and President-elect Donald Trump called reports about him considering scaling back his tariff plans, "fake news."

The tech-heavy Nasdaq Composite climbed 1.2 percent and the S&P 500 gained 0.6 percent while the narrower Dow finished marginally lower.

European stocks rose the most in over a month on Monday after reports emerged that the incoming Trump administration may explore softer-than-expected tariffs.

The pan European STOXX 600 advanced 1 percent. The German DAX rallied 1.6 percent, France's CAC 40 surged 2.2 percent and the U.K.'s FTSE 100 added 0.3 percent.

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

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KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

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RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

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U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

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Swiss Market Ends Moderately Lower

After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved slightly above the flat line in late afternoon trades on Monday, but quickly tumbled again to eventually settle on a weak note.

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European Markets Close Weak After Cautious Session

European stocks closed on a weak note on Monday after a cautious session as investors awaited key inflation data from major economies in the region, and looked for more details about U.S. - EU trade deal.

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Canadian Market Down More Than 0.5% On Profit Taking

After opening slightly down, the Canadian market slipped deeper into the red on Monday, weighed down by losses in healthcare, consumer staples, utilities and materials sectors.

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U.S. New Home Sales Pull Back From Upwardly Revised Level In July

New home sales in the U.S. decreased from an upwardly revised level in the month of July, according to a report released by the Commerce Department on Monday. The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 652,000 in July after surging by 4.1 percent to an upwardly revised rate of 656,000 in June.

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EURUSD	1.16158	GBPUSD	1.34523	AUDUSD	0.64816
USDJPY	147.826	USDCAD	1.386	USDCHF	0.8062