Mixed Sentiment In Asian Markets

(RTTNews) - Mixed sentiment prevailed in Asian markets on Tuesday tracking the negative sentiment in Wall Street on Monday. Market mood was impacted by worries about a broad slowdown in AI development. Markets also digested the quarter percentage rate hike by Reserve Bank of Australia. Renewed diplomatic push to end the Middle East crisis, the decline in crude oil prices as well as the easing in bond yields capped losses.

China's Shanghai Composite Index added 7 points or 0.18 percent from the previous close of 3,823.62 to finish trading at 3,830.45. The day's trading ranged between 3,810.81 and 3,843.84. At current levels, the index has lost 0.8 percent over the course of the past year.

The Japanese benchmark Nikkei 225 shed 307 points or 0.47 percent to close trading at 65,571.00. The day's trading ranged between 64,708 and 65,837. Despite the day's losses, the index is holding on to gains of more than 45 percent over the course of the past year.

Tokai Carbon surged 4.8 percent followed by Disco Corp that gained 4.2 percent. Nexon Co slipped more than 14 percent. Mitsubishi Motors Corp, Idemitsu Kosan Co, JFE Holdings have all shed around 4.9 percent.

The Hang Seng Index of the Hong Kong Stock Exchange shed 119 points or 0.48 percent from the previous close to finish trading at 24,523.57. The day's trading range was between a high of 24,648.64 and a low of 24,444.15. The index has lost close to 8 percent over the past year.

Korean Stock Exchange's Kospi Index slipped 19 points or 0.27 percent from the previous close of 6,889.74 to close trading at 6,870.81. The day's trading range was between 6,782.99 and 6,898.36. Nevertheless, the index is holding on to gains of more than 100 percent over the course of the past year.

Australia's S&P/ASX200 closed trading at 8,709.30, adding 30 points or 0.34 percent from the previous close of 8,679.70. The day's trading ranged between 8,661 and 8,709.30. The index is trading with losses of more than 1.7 percent over the course of the past year.

Communications technology business Codan led gains with a surge of 23.9 percent after it sharply raised its first-half profit outlook on strong demand from drone manufacturers. Megaport rallied 9.4 percent. Karoon Energy led losses with a decline of 6.8 percent followed by Block that declined 2.53 percent.

The NZX 50 of the New Zealand Stock Exchange erased 147 points or 1.1 percent to close trading at 13,683.63. The day's trading ranged between 13,681.76 and 13,830.68. The benchmark index has gained around 4.2 percent over the course of the past year.

Fonterra Shareholders Fund rallied 3.2 percent followed by Synlait Milk that gained 2.4 percent. Serko led losses with a decline of 3.8 percent. Vista Group International dropped 3.2 percent.

Wall Street had closed on a negative note on Monday, as the U.S.-Iran impasse weighed on market mood. The spike in crude oil prices and the surge in bond yields exacerbated the bearish sentiment. The Dow Jones Industrial Average dropped 0.67 percent to finish trading at 51,481.51. The S&P 500 lost 0.77 percent to finish trading at 7,683.69. The tech-heavy Nasdaq Composite shed 0.92 percent to close trading at 26,820.38.