Investing.com - APAC markets opened on a positive note Tuesday as Wall Street braces for earnings reports from major technology firms and the Federal Reserve's meeting later in the week.
By 11:30 am AEDT (12:30 am GMT) the S&P/ASX 200 added 0.7%, the KOSPI 200 gained 0.9% and the Nikkei 225 lifted 0.5%.
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US stocks hit new records to kick off a busy week filled with corporate earnings, a Fed rate decision, and monthly jobs data.
Consumer discretionary shares led the rally, with gains from the likes of Carnival Corporation (NYSE:CCL), Tesla Inc (NASDAQ:TSLA) and Domino’s Pizza Inc (NYSE:DPZ). Energy was the worst-performing sector as oil and gas prices fell.
Treasury prices increased, with the United States 10-Year yield falling to 4.07%.
Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) are due to release earnings tomorrow, with Meta, Amazon (NASDAQ:AMZN), and Apple (NASDAQ:AAPL) set for Thursday.
In the commodity markets, Brent crude oil fell 1.2% to US$82.57 a barrel, while gold increased 0.7% to US$2,031.56.
Chinese shares closed lower, burdened by losses in the semiconductor and tech hardware sectors. The benchmark Shanghai Composite Index fell 0.9% to 2,883.36, ending a four-session winning streak. The Shenzhen Composite Index and the ChiNext Price Index also declined, falling 2.4% and 3.5% respectively.
Hong Kong's Hang Seng Index rose 0.8% to close at 16,077.24, led by consumer and some property stocks. Japanese stocks ended higher, led by gains in auto and brokerage shares, with the Nikkei Stock Average rising 0.8% to 36,026.94. Indian shares also ended higher, with the benchmark Sensex increasing 1.8% to 71,941.57.
European markets closed mixed as traders await interest rate decisions and job data later this week. The Stoxx Europe 600 gained 0.2%, the FTSE 100 remained largely unchanged, the CAC 40 advanced 0.1%, and the DAX dropped 0.1%. Brent crude retreated 1.3% to $81.85 a barrel, though oil shares rose.
The FTSE 100 closed down slightly, with Shell (LON:RDSa) and BP (LON:BP) shares rising along with oil prices due to escalating tensions in the Middle East.