What's Affecting Markets Today
Asian markets rally
Asia-Pacific markets were mostly higher on Tuesday following record closes for the S&P 500 and Nasdaq Composite. Japan’s Nikkei 225 surged 1.9%, with the Topix adding 0.91%. South Korea’s Kospi edged up 0.16%, boosted by a 0.34% gain in Samsung Electronics despite an ongoing union strike for better pay. Conversely, Hyundai’s shares dropped 3.53% after reaching a tentative wage agreement, averting a strike.
Hong Kong’s Hang Seng Index slipped 0.47%, and the CSI 300 fell 0.11%.
In corporate news, Chinese electric vehicle manufacturer BYD announced a $1 billion investment in Turkey to build a plant with an annual capacity of 150,000 vehicles, slated to begin production by late 2026. The facility is expected to create 5,000 jobs, according to Turkey’s industry and technology minister Mehmet Fatih Kacir. This development comes shortly after the European Union increased tariffs on electric vehicles imported from China.
ASX Stocks
ASX 200 - 7,827.7 (+0.8%)
Key Highlights:
Leaders
IFL – Insignia Financial Ltd (+11.36%)
DRO – Droneshield Ltd (+6.72%)
JDO – Judo Capital Holdings Ltd (+6.62%)
VUL – Vulcan Energy Resources Ltd (+6.17%)
LTR – Liontown Resources Ltd (+5.56%)
Laggards
CUV – Clinuvel Pharmaceuticals Ltd (-7.42%)
WA1 – WA1 Resources Ltd (-7.04%)
GYG – Guzman Y Gomez Ltd (-4.57%)
CMM – Capricorn Metals Ltd (-3.65%)
RSG – Resolute Mining Ltd (-3.57%)
