Asian Shares Mixed As US-China Talks Continue

(RTTNews) - Asian stocks ended Tuesday's session on a mixed note as investors looked past the U.S.-EU trade deal and awaited the outcome of ongoing U.S.-China talks in Stockholm.

As the August 1 deadline nears, U.S. President Donald Trump said on Monday that most trading partners that do not negotiate separate trade deals would soon face tariffs of 15 percent to 20 percent on their exports to the United States and that some 200 countries would be notified soon of their new "world tariff" rate.

Investors also braced for big tech earnings, key U.S. economic indicators and upcoming Fed and BoJ rate decisions.

The dollar gained strength, and gold was steady below $3,315 per ounce while crude oil futures steadied at around 10-day highs as Trump shortened the deadline for Russia oil sanctions.

China's Shanghai Composite index rose 0.33 percent to 3,609.71, reversing an early slide after Trump said he may visit China at Chinese President Xi Jinping's invitation, which Trump said had been extended.

Hong Kong's Hang Seng index dropped 0.15 percent to 25,524.45, with tech stocks falling, following reports of the U.S. Commerce Department delaying approvals for NVIDIA's export licenses to China.

Japanese markets ended lower for a third straight session on concerns over political instability and the corporate outlook.

The Nikkei average fell 0.79 percent to 40,674.55 as Prime Minister Shigeru Ishiba faced renewed calls to resign over last week's historic election loss. The broader Topix index settled 0.75 percent lower at 2,908.64.

Chip-related stocks paced the declines, with Lasertec plunging more than 8 percent. Advantest and Tokyo Electron both fell over 1 percent. Nitto Denko lost 3.1 percent after the industrial materials maker reported a decline in quarterly profits.

Seoul stocks climbed to hit a near four-year high, buoyed by strong foreign buying.

The Kospi average jumped 0.66 percent to 3,230.57, extending gains for a fifth straight session as last-minute trade negotiations continued between Seoul and Washington.

Australian markets finished marginally higher as investors scrutinized the long-term impact of elevated U.S. tariffs.

Miners and banks fell ahead of key inflation data that could steer the Reserve Bank of Australia's (RBA) next interest-rate decision.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index edged up by 0.20 percent to 12,936.41.

U.S. stocks ended mixed overnight as traders' enthusiasm for the U.S.-EU deal was muted.

The tech-heavy Nasdaq Composite rose 0.3 percent and the S&P 500 edged up marginally to reach new record closing highs while the narrower Dow slid 0.1 percent.