Asian Markets Trade Mixed

(RTTNews) - Asian stock markets are trading mixed on Tuesday, following the mixed cues from other global markets overnight, as traders largely stayed reluctant to make significant moves amid a lack of any new catalyst after a holiday on Wall Street. They continue to react to last week's key economic data. Asian markets closed mixed on Monday.

Data showing continued contraction in eurozone manufacturing activity weighed on sentiment. This followed an official survey that showed China's factory activity hit a six-month low in August.

After a key inflation report matched expectations, traders now await more U.S. economic data this week for additional clues on the US Fed's interest rate path.

Giving up some of the gains in the previous two sessions, the Australian stock market is trading slightly lower on Tuesday, following the mixed cues from other global markets overnight. The benchmark S&P/ASX 200 is falling below the 8,100 level, with weakness in iron ore miners partially offset by slight gains in gold miners and energy stocks.

The benchmark S&P/ASX 200 Index is losing 1.80 points or 0.02 percent to 8,108.10, after hitting a low of 8,073.70 earlier. The broader All Ordinaries Index is down 1.00 points or 0.01 percent to 8,329.80. Australian stocks closed modestly higher on Monday.

Among the major miners, BHP Group and Rio Tinto are losing almost 1 percent each, while Fortescue Metals is edging down 0.3 percent and Mineral Resources is declining more than 2 percent.

Oil stocks are mostly higher. Woodside Energy, Santos and Origin Energy are edging up 0.2 to 0.4 percent each, while Beach energy is flat.

Among tech stocks, Appen is gaining 1.5 percent, Zip is edging up 0.2 percent and WiseTech Global is adding more than 1 percent, while Afterpay owner Block and Xero are edging down 0.1 to 0.4 percent each.

Gold miners are mostly higher. Gold Road Resources is gaining more than 1 percent and Newmont is edging up 0.1 percent, while Northern Star resources and Evolution Mining are adding almost 1 percent each. Resolute Mining is flat.

Among the big four banks, ANZ Banking and National Australia Bank are edging down 0.2 to 0.3 percent each, while Commonwealth Bank and Westpac are flat.

In the currency market, the Aussie dollar is trading at $0.678 on Tuesday.

Extending the gains in the previous two sessions, the Japanese stock market is modestly higher on Tuesday, with the Nikkei 225 moving above the 38,800 level, following the mixed cues from other global markets overnight, with gains across most sectors led by index heavyweights, exporters and financial stocks.

The benchmark Nikkei 225 Index closed the morning session at 38,787.80, up 86.93 points or 0.22 percent, after touching a high of 38,967.56 earlier. Japanese shares ended modestly higher on Monday.

Market heavyweight SoftBank Group is gaining almost 1 percent and Uniqlo operator Fast Retailing is also up almost 1 percent. Among automakers, Honda is adding almost 1 percent and Toyota is also gaining almost 1 percent.

In the tech space, Advantest is edging up 0.3 percent and Screen Holdings is gaining almost 1 percent, while Tokyo Electron is flat.

In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are gaining almost 2 percent each, while Sumitomo Mitsui Financial is adding almost 1 percent.

The major exporters are mostly higher. Panasonic is gaining more than 1 percent, Canon is edging up 0.2 percent and Sony is adding 1.5 percent, while Mitsubishi Electric is flat.

Among the other major gainers, Sapporo Holdings surged almost 5 percent, while NTT Data, CyberAgent and Mitsubishi Chemical Group gaining more than 4 percent each. Resona Holdings, Mercari, Yamato Holdings and Dai-ichi Life Holdings are adding more than 3 percent each, while NEC, Toho, Toray Industries, Rakuten Group and T&D Holdings are advancing almost 3 percent each.

Conversely, Fujikura is losing almost 4 percent, while Hoya and Socionext are declining almost 3 percent each.

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

Elsewhere in Asia, Hong Kong, Singapore, South Korea, Malaysia and Taiwan are higher by between 0.1 and 0.5 percent each, while New Zealand, China and Indonesia are down 0.2 percent each.

On Wall Street, the markets were closed Labor Day on Monday after closing strongly higher on Friday.

The major European markets finished the day mixed, with the U.K.'s FTSE 100 ended down 0.15 percent, while Germany's DAX and France's CAC 40 gained 0.13 percent and 0.2 percent, respectively.