Asia-Pacific stock markets saw a mixed trading trend on Tuesday, buoyed by gains on Wall Street from a surge in technology shares. Japan’s Nikkei 225 kicked off trading with a 1.16% increase, while South Korea’s Kospi saw a modest gain of 0.65% in the early hours, though the Kosdaq, which focuses on small-cap stocks, slipped by 0.06%.
South Korea revealed on Tuesday an increased support package for its essential semiconductor sector, now totaling 33 trillion won ($23.25 billion). This marks an approximate 25% increase from the 26 trillion won package announced the previous year.
Meanwhile, Australia’s S&P/ASX 200 rose modestly by 0.29%. The Shanghai Composite took a dip by 0.36% in early trade and Hong Kong’s Hang Seng index hovered around the flat line with a slight gain of less than 0.1%.
Over in the United States, the Dow Jones Industrial Average advanced 312.08 points, or 0.78%, closing at 40,524.79 on Monday. The Nasdaq Composite also saw an increase, rising 0.64% to finish at 16,831.48. Meanwhile, the S&P 500 added 0.79% to settle at 5,405.97. Despite volatile trading conditions, all three major indices managed to close in positive territory.
Meanwhile, U.S. crude oil prices remained relatively stable after OPEC adjusted its demand growth forecast downward for this year, a response to trade tensions spurred by President Donald Trump’s tariffs. U.S. crude oil inched up 3 cents to conclude at $61.53 per barrel, while Brent crude, the global benchmark, edged up by 12 cents to $64.88 a barrel. OPEC now estimates daily crude demand will increase by 1.3 million barrels both this year and next, a reduction by approximately 150,000 barrels per day from prior forecasts, as outlined in their latest monthly report.
Gold faced a slight pullback on Monday, moving away from a recent record high as investor sentiment improved thanks to the White House’s decision to spare smartphones and computers from significant tariffs on Chinese goods. Spot gold decreased by 0.7% to $3,213.69 an ounce, having previously reached a peak of $3,245.42. U.S. gold futures also dipped, closing 0.6% lower at $3,226.30.
