TOKYO, Japan: Asian stocks ended mixed on Tuesday as investors monitored the latest developments on the geopolitical front and awaited cues from upcoming United States (US) economic readings, including gross domestic product data, PCE inflation figures and minutes from the Federal Reserve’s last meeting, reported German Press Agency (dpa).
Trading volumes were thin as markets in mainland China, Hong Kong, Singapore, Taiwan and South Korea were closed for the Lunar New Year holidays.
Gold extended losses to dip below USD4,900 (RM19,257) an ounce, pressured by easing geopolitical tensions ahead of the second round of talks in Geneva between the US and Iran.
Representatives of Ukraine and Russia met in Geneva on Tuesday and will meet again today for a fresh round of US-mediated peace talks.
The talks will be held in a trilateral format involving representatives from Russia, the US, and Ukraine.
The dollar strengthened while oil prices fell on oversupply concerns following reports that OPEC+ is considering resuming output hikes in April.
Japanese markets ended lower and the yen fluctuated as soft GDP data released on Monday dented sentiment.
Amid speculation over the fiscal and monetary policy path, Bank of Japan Governor, Kazuo Ueda, said he discussed economic and financial conditions in general with Prime Minister Sanae Takaichi during a regular meeting.
The Nikkei average dipped 0.42 per cent to 56,566.49, extending losses for the fourth consecutive session amid expectations that the Bank of Japan will hike interest rates in April.
The broader Topix index settled 0.68 per cent lower at 3,761.55.
Australian markets eked out modest gains as minutes from the Reserve Bank of Australia’s February monetary policy meeting reinforced a tightening bias without committing to May action.
The benchmark S&P/ASX 200 edged up by 0.24 per cent to 8,958.90, extending gains from the previous session.
The broader All Ordinaries index settled 0.20 per cent higher at 9,182.50. Mining heavyweight BHP Billiton soared 4.7 per cent after reporting a jump in half-year net profit.
Across the Tasman, New Zealand’s benchmark S&P/NZX-50 index fell 0.66 per cent to 13,031.62, extending declines for a third straight session and reaching the lowest level in over four months.
A2 Milk Company shares rallied 6.6 per cent. The dairy group raised its FY26 revenue growth outlook after delivering strong first-half sales in formula and nutritionals on strong sales momentum in China.
Overnight, US markets were shut in observance of Presidents’ Day. – BERNAMA-dpa
