Shares in Asia showed a mixed trend on Tuesday following a positive close for U.S. stocks, particularly in the Big Tech sector which rebounded from recent losses. U.S. futures saw a slight dip, while oil prices remained relatively stable.
The Nikkei 225 in Tokyo closed nearly unchanged at 39,594.39, while Chinese markets experienced declines with the Hang Seng in Hong Kong down 0.9% and the Shanghai Composite index shedding 1.7%.
China's central bank implemented a 10 basis point cut to two key interest rates on Monday in an effort to stimulate the economy. However, market sentiment remained cautious as investors hoped for more significant measures to drive growth.
South Korea's Kospi advanced 0.4% and the S&P/ASX 200 jumped 0.5%, while Taiwan's Taiex surged 2.8% driven by gains in Taiwan Semiconductor Manufacturing Co.
In the U.S., the S&P 500 broke a three-day losing streak, rising 1.1% to 5,564.41. The Dow Jones Industrial Average added 0.3% and the Nasdaq composite climbed 1.6%, with tech stocks leading the rally.
Corporate earnings reports and U.S. economic growth data are expected to be key market drivers this week. Companies like Alphabet, Tesla, Coca-Cola, Ford, and American Airlines are set to announce their latest quarterly results.
Treasury yields saw a modest increase after President Joe Biden announced he would not seek re-election, potentially impacting the market's 'Trump trade' dynamics.
Following a global technology outage, some airport delays persisted, although the issue was largely resolved. Cybersecurity firm CrowdStrike clarified that the outage was not due to a security incident or cyberattack.
In energy markets, U.S. benchmark crude oil edged up to $78.41 per barrel, while Brent crude, the international standard, rose to $82.47 per barrel.
