(RTTNews) – Asian stock markets are trading mostly lower on Tuesday, following slightly negative signals from global markets overnight, amid falling oil prices, concerns over slowing growth and Growing tension between China and the US over the visit to Taiwan by US House Speaker Nancy Pelosi. Ongoing concerns about the outlook for the economy, inflation and interest rates also weighed on sentiment. Asian markets mostly closed higher on Monday.
The Australian stock market is slightly lower on Tuesday, ending the five-game winning streak, with the benchmark S&P/ASX 200 index remaining below 7,000, following slightly negative signals from global markets overnight, as traders await the Reserve Bank’s interest rate decision. later in the day, with the RBA expected to hike rates another 50 basis points to a six-year high.
The benchmark S&P/ASX 200 lost 27.20 points or 0.39% to 6,965.80, after hitting a low of 6,944.90 earlier. The broader All Ordinaries index was down 30.80 points or 0.43% at 7,182.20. Australian stocks closed sharply higher on Monday.
Among the major miners, Rio Tinto and Mineral Resources are down almost 1% each, while BHP Group and Fortescue Metals are down almost 2% each. OZ Minerals is down 2.5%.
Oil inventories are lower, with Beach Energy and Origin Energy losing more than 1% each, while Woodside Energy and Santos are down almost 1% each.
Among tech stocks, Afterpay owner Block gained nearly 3% and Zip jumped nearly 8%, while WiseTech Global and Xero gained 0.3-0.5% each. Appen plunging nearly 27% after saying it saw much worse-than-expected first-half results and warned of an uncertain outlook.
Gold miners are mostly higher. Newcrest Mining is up 0.4%, Resolute Mining is up almost 2%, Northern Star Resources is up almost 1% and Gold Road Resources is up over 1%, while Evolution Mining is down 0.4%.
Among the big four banks, Commonwealth Bank, National Australia Bank and Westpac each rose 0.5%, while ANZ Banking fell 0.2%.
In economic news, the Reserve Bank of Australia will wrap up its monetary policy meeting and then announce its interest rate decision. The RBA is expected to raise its key rate by 50 basis points, for the third consecutive month, to 1.85% from 1.35%.
In the currency market, the Australian dollar is trading at $0.701 on Tuesday.
The Japanese stock market is down sharply on Tuesday, giving up all gains from the previous session, with the Nikkei 225 falling below the 27,600 level, following slightly negative signals from global markets overnight, with weakness in tech, finance and energy. shares.
The benchmark Nikkei 225 closed the morning session at 27,549.41, down 443.94 points or 1.59%, after hitting a low of 27,530.60 earlier. Japanese stocks ended sharply higher on Monday.
The SoftBank group, heavyweight in the market, fell by 0.2%, while the operator Uniqlo Fast Retailing gained nearly 1%. Among automakers, Honda lost more than 1% and Toyota fell nearly 2%.
In technology, Advantest lost nearly 1%, while Tokyo Electron and Screen Holdings fell more than 1% each. In the banking sector, Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Mizuho Financial lost nearly 2% each.
Major exporters are down, with Mitsubishi Electric losing almost 3%, Canon down almost 2% and Panasonic down more than 1%, while Sony is flat. Among the other big losers, Hino Motors fell more than 9%, while Isetan Mitsukoshi and Daiichi Sankyo fell nearly 5%. Toto and Japan Steel Works are down more than 4%, while Chugai Pharmaceutical, Otsuka Holdings, Komatsu and Kubota are down almost 4%. Denso, Aozora Bank, Sumitomo Pharma, Mitsui & Co., Yaskawa Electric and Omron are down more than 3%.
Conversely, TDK soared by more than 12%.
In the currency market, the US dollar is trading in the upper range of 130 yen on Tuesday.
Elsewhere in Asia, Hong Kong, China and Taiwan plunge between 1.8 and 2.9%, while New Zealand, South Korea, Singapore, Malaysia and Indonesia are down 0.1 to 0. .9% each.
On Wall Street, stocks posted a lackluster performance on Monday, the first trading session of August, and ended slightly weak after posting their best month of the year in July. Fairly encouraging corporate earnings updates helped limit the market decline.
The major averages all ended in negative territory despite a brief period in positive territory. The Dow Jones ended down 46.73 points or 0.14% at 32,798.40, after trading between 32,640.79 and 32,972.03. The S&P 500 ended down 11.66 points or 0.28% at 4,118.63, while the Nasdaq came in at 12,368.98, down 21.71 points or 0.18% from compared to the previous closing.
Major European markets all showed downward moves on the day. Britain’s FTSE 100 ended down 0.13%, France’s CAC 40 ended down 0.18% and Germany’s DAX edged down 0.03%.
Crude oil prices fell sharply on Monday on worries about the outlook for energy demand and ahead of this week’s OPEC+ meeting. West Texas Intermediate crude oil futures for September ended down $4.73 or 4.8% at $93.89 a barrel.
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