Asian stocks concluded with mixed results on Tuesday due to sluggish cues from Wall Street and Europe. Any significant gains were limited by anticipation of key U.S. inflation data to be released later that day, which could provide insight into the future direction of interest rates.The U.S dollar maintained stability while gold experienced a minor decrease from its record high. Oil prices, however, saw an increase of approximately half a percent as the market awaited monthly reports from leading producer group OPEC and the International Energy Agency, highly renowned predictors of oil demand growth.In China, the Shanghai Composite Index fell by 0.41 percent to 3,055.94 amid ongoing concerns over softening demand within the country. In contrast, Hong Kong’s Hang Seng Index saw a significant rise of 3.05 percent to 17,093.50, largely bolstered by gains in the technology sector.Property developer China Vanke saw a surge of over 10 percent as large banks are expected to provide increased support for the company. Japanese markets managed to recover from steep losses earlier in the day, ending relatively flat as the yen weakened in response to bearish remarks by Bank of Japan Governor Ueda ahead of the forthcoming policy meeting. Despite the Japanese economy showing signs of a moderate recovery, Ueda highlighted areas of underperformance in terms of consumer spending.The Japanese Minister of Finance, Shunichi Suzuki, added that the Japanese economy was still struggling with deflation. The Nikkei average registered a marginal decrease, closing at 38,797.51 after hitting a low not seen in over two weeks. Following the release of stronger-than-expected producer price inflation data, the broader Topix index dipped 0.36 percent to 2,657.24.In South Korea, appreciable gains were noted as the Kospi average climbed 0.83 percent to 2,681.81. LG Electronics saw a 2.4 percent increase following its acquisition of a stake in Silicon Valley startup, Bear Robotics. Australian markets also finished slightly up, with the S&P/ASX 200 settling at 0.11 percent higher at 7,712.50, thanks largely to the performance of gold mining and technology stocks. The wider All Ordinaries index improved slightly by 0.12 percent to 7,973.In New Zealand, the S&P/NZX-50 index dropped by 0.37 percent to 11,829.18. U.S stocks experienced a second consecutive day of losses as Treasury yields inched higher in anticipation of key inflation data. The Dow managed a modest 0.1 percent increase, though both the S&P 500 and the tech-centric Nasdaq Composite recorded losses of 0.1 and 0.4 percent respectively.The material has been provided by InstaForex Company – www.instaforex.com
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