Asian Markets Trade Mostly Higher

(RTTNews) - Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from European markets and lack of cues from Wall Street overnight, as major currencies in the region strengthened against the US dollar. Traders also cautiously look ahead to upcoming U.S. monthly jobs and inflation data, along with the US Fed's rate decision. Asian markets closed mixed on Monday.

The Australian stock market is trading modestly lower on Tuesday, extending the losses in the previous two sessions, despite the broadly positive cues from European markets and lack of cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,950 level, with weakness in energy and technology stocks.

The benchmark S&P/ASX 200 Index is losing 19.00 points or 0.21 percent to 8,908.70, after hitting a low of 8,891.20 earlier. The broader All Ordinaries Index is down 21.00 points or 0.23 percent to 9,175.80. Australian stocks closed notably lower on Monday.

Among the major miners, Rio Tinto, Mineral Resources and BHP Group are edging up 0.1 to 0.4 percent each, while Fortescue is losing almost 1 percent.

Oil stocks are mostly lower. Origin Energy and Woodside Energy are losing almost 1 percent each, while Beach energy is edging down 0.3 percent and Santos is declining almost 3 percent.

Among tech stocks, Afterpay owner Block, Zip and WiseTech Global are edging down 0.2 to 0.4 percent each, while Appen is losing almost 1 percent. Xero is edging up 0.3 percent.

Gold miners are mixed. Gold Road Resources and Newmont are edging down 0.1 to 0.3 percent each, while Northern Star resources is losing almost 1 percent. Evolution Mining is adding almost 1 percent and Resolute Mining is gaining more than 2 percent.

Among the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are edging up 0.1 to 0.5 percent each.

In the currency market, the Aussie dollar is trading at $0.654 on Tuesday.

The Japanese stock market is trading modestly higher on Tuesday, reversing the losses in the previous two sessions, following the broadly positive cues from European markets and lack of cues from Wall Street overnight, with the Nikkei 225 moving above the 42,250 level, with a mixed performance across most sectors.

The benchmark Nikkei 225 Index closed the morning session at 42,292.88, up 104.09 points or 0.25 percent, after touching a high of 42,473.67 earlier. Japanese shares ended sharply lower on Monday.

Market heavyweight SoftBank Group is losing almost 1 percent, while Uniqlo operator Fast Retailing is gaining almost 1 percent. Among automakers, Honda is edging up 0.2 percent and Toyota is also edging up 0.1 percent.

In the tech space, Screen Holdings is edging up 0.2 percent and Tokyo Electron is gaining almost 1 percent, while Advantest is edging down 0.3 percent.

In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are edging down 0.2 to 0.3 percent each, while Sumitomo Mitsui Financial is edging up 0.3 percent.

The major exporters are mostly higher. Mitsubishi Electric is edging up 0.3 percent, Panasonic is gaining more than 1 percent and Canon is adding almost 1 percent, while Sony is edging down 0.2 percent.

Among the other major gainers, Kirin Holdings is surging more than 5 percent and Sumitomo Pharma is gaining almost 5 percent, while Mitsui Mining & Smelting, Isetan Mitsukoshi and M3 are adding almost 4 percent each. Taiheiyo Cement, Sumco and Sumitomo Chemical are advancing more than 3 percent each, while Minebea Mitsumi, Dai Nippon Printing, Dentsu Group and Asahi Group Industries are up almost 3 percent each.

Conversely, Mercari is losing more than 3 percent and Ryohin Keikaku is declining almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 147 yen-range on Tuesday.

Elsewhere in Asia, New Zealand, Hong Kong, Singapore, South Korea and Indonesia are higher by between 0.3 and 1.1 percent each. China and Malaysia are down 0.3 and 0.7 percent, respectively. Taiwan is relatively flat.

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

The major European markets all also moved to the upside on the day. The Germany's DAX climbed 0.57 percent, while the U.K.'s FTSE 100 and France's CAC 40 edged up 0.1 percent and 0.05 percent.