Asian Markets Mixed

Asia-Pacific markets exhibited mixed performances on Tuesday, despite Wall Street’s gains amidst political uncertainties. Australia’s S&P/ASX 200 edged up 0.61%, Japan’s Nikkei 225 gained 0.41%, and the Topix rose 0.49%. South Korea’s Kospi increased by 0.58% and the Kosdaq by 0.42%, as the country’s producer price index for June rose 2.5% year-on-year, up from May’s 2.3%. However, shares of messaging app Kakao plummeted 4.63% following an arrest warrant for founder Brian Kim over alleged market manipulation.

Hong Kong’s Hang Seng Index slipped 0.23%, while Mainland China’s CSI 300 fell 0.52%. India is set to announce its first budget under Prime Minister Narendra Modi’s third term, with Barclays analysts anticipating policy consistency and continued fiscal consolidation with a slight shift in spending.

Additionally, traders are closely watching Singapore’s June inflation data, with economists predicting a 2.7% year-on-year increase, compared to May’s 3.1% rise.