Asian Shares Mixed As Investors Await Key Earnings

(RTTNews) - Asian shares turned in a mixed performance on Tuesday as trade tensions persisted and investors waited for clues on how companies are withstanding tariffs.

Google parent Alphabet, Tesla, General Motors and Intel are among the prominent U.S. companies scheduled to publish their earnings results this week.

Gold eased from a one-month high as the dollar struggled to recover ahead of a key speech by U.S. Federal Reserve Chair Jerome Powell.

Oil held a decline amid concerns the brewing trade war between major crude consumers the U.S. and the European Union will curb fuel demand.

China's Shanghai Composite index rose 0.62 percent to 3,581.86, climbing to an eight-month high. Hong Kong's Hang Seng index ended up 0.54 percent at 25,130.03.

Shares of construction and power firms surged after China announced over the weekend the start of construction on a $170 billion hydropower dam in Tibet.

Japanese markets ended a choppy session slightly lower after the ruling coalition lost its majority in the upper house over the weekend.

The Nikkei average slipped 0.11 percent to 39,774.92 while the broader Topix index finished marginally higher at 2,836.19.

Japan Steel Works, Tokyo Electric Power Company Holdings and Mitsubishi Heavy Industries surged 5-6 percent while Sumitomo Pharma lost 5 percent and Ebara Corp declined 4.3 percent. SoftBank Group rallied 2.9 percent to extend gains for a third straight session.

Seoul stocks tumbled amid uncertainty over ongoing tariff negotiations with the United States and caution ahead of the corporate earnings season.

The Kospi average fell 1.27 percent to 3,169.94, dragged down by tech stocks. Samsung Electronics gave up 2.7 percent and SK Hynix shed 1.5 percent.

Australian markets ended slightly higher as the Reserve Bank of Australia's July meeting minutes revealed a broadly aligned view that there will be "some additional reduction in interest rates over time".

The benchmark S&P/ASX 200 edged up by 0.10 percent to 8,677.20 as higher commodity prices boosted mining stocks.

BHP Group shares climbed 2.6 percent and Rio Tinto rallied 3.4 percent. The broader All Ordinaries index closed 0.17 percent higher at 8,941.50.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 settled 0.99 percent lower at 12,833.74, retreating from a five-month high amid persistent global trade uncertainties.

U.S. stocks ended mostly higher overnight as upbeat earnings and lower bond yields offset lingering trade tensions.

The tech-heavy Nasdaq Composite and the S&P 500 rose 0.4 percent and 0.1 percent, respectively to hit new record closing highs while the Dow finished marginally lower.